Celsius (NASDAQ:CELH) Cut to Hold at TD Cowen

TD Cowen cut shares of Celsius (NASDAQ:CELH) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $29.00 price objective on the stock, down from their prior price objective of $40.00.

A number of other analysts have also recently commented on the stock. Piper Sandler cut their target price on shares of Celsius from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, September 24th. Stifel Nicolaus cut their price objective on Celsius from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group decreased their target price on Celsius from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. B. Riley dropped their price target on Celsius from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. initiated coverage on Celsius in a research note on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.00.

Celsius Stock Performance

Shares of NASDAQ CELH opened at $25.77 on Wednesday. The firm has a fifty day moving average of $28.01 and a 200 day moving average of $33.93. The firm has a market cap of $6.06 billion, a PE ratio of 35.79, a PEG ratio of 2.79 and a beta of 1.79. Celsius has a one year low of $24.55 and a one year high of $99.62.

Insiders Place Their Bets

In other Celsius news, major shareholder William H. Milmoe sold 65,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $31.15, for a total transaction of $2,024,750.00. Following the completion of the transaction, the insider now owns 261,245 shares of the company’s stock, valued at $8,137,781.75. This trade represents a 19.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Celsius

A number of hedge funds have recently made changes to their positions in CELH. Dimensional Fund Advisors LP boosted its position in shares of Celsius by 86.9% during the second quarter. Dimensional Fund Advisors LP now owns 990,135 shares of the company’s stock worth $56,531,000 after buying an additional 460,227 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Celsius by 353.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 648 shares of the company’s stock worth $37,000 after purchasing an additional 505 shares in the last quarter. Xponance Inc. grew its position in shares of Celsius by 7.8% during the second quarter. Xponance Inc. now owns 40,607 shares of the company’s stock worth $2,318,000 after buying an additional 2,928 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Celsius by 63.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,026 shares of the company’s stock valued at $1,657,000 after acquiring an additional 11,258 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Celsius by 22.8% in the second quarter. Toronto Dominion Bank now owns 17,893 shares of the company’s stock worth $1,022,000 after acquiring an additional 3,326 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.