Morgan Stanley Cuts Celsius (NASDAQ:CELH) Price Target to $42.00

Celsius (NASDAQ:CELH) had its target price reduced by research analysts at Morgan Stanley from $46.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 43.64% from the stock’s current price.

Several other brokerages have also recently weighed in on CELH. B. Riley reduced their price target on Celsius from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group decreased their price target on shares of Celsius from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Bank of America dropped their price objective on shares of Celsius from $32.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Roth Mkm decreased their target price on shares of Celsius from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday. Finally, Piper Sandler dropped their price target on Celsius from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Celsius presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

Celsius Stock Performance

Celsius stock opened at $29.24 on Wednesday. Celsius has a fifty-two week low of $25.23 and a fifty-two week high of $99.62. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.44 and a beta of 1.76. The stock’s 50 day simple moving average is $30.10 and its two-hundred day simple moving average is $40.47.

Insider Activity at Celsius

In other Celsius news, major shareholder William H. Milmoe sold 65,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $31.15, for a total value of $2,024,750.00. Following the transaction, the insider now directly owns 261,245 shares in the company, valued at approximately $8,137,781.75. This trade represents a 19.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celsius

Several hedge funds and other institutional investors have recently modified their holdings of CELH. State Street Corp grew its holdings in Celsius by 3.2% during the third quarter. State Street Corp now owns 5,320,760 shares of the company’s stock valued at $166,860,000 after purchasing an additional 165,329 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Celsius by 231.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,946,208 shares of the company’s stock valued at $225,289,000 after buying an additional 2,754,722 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Celsius by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,000,805 shares of the company’s stock valued at $93,928,000 after acquiring an additional 104,896 shares during the period. Bank of New York Mellon Corp increased its holdings in Celsius by 36.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,942,433 shares of the company’s stock worth $167,983,000 after acquiring an additional 790,014 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Celsius by 19.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,381,279 shares of the company’s stock worth $43,317,000 after acquiring an additional 221,833 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.