Celsius (NASDAQ:CELH) Hits New 12-Month High - Here's What Happened

Key Points

• Celsius Holdings Inc. reached a new 52-week high of $65.35 during mid-day trading, indicating strong market performance following a previous close at $63.10.
• Analysts have mixed ratings for Celsius, with 19 buy, 4 hold, and 1 sell rating; price targets vary from $70.00 to $73.00, reflecting optimism amidst some caution.
• The company reported impressive earnings, with a quarterly revenue increase of 83.9% and an EPS of $0.47, surpassing estimates significantly.

Celsius Holdings Inc. (NASDAQ:CELH - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.15 and last traded at $65.35, with a volume of 879414 shares changing hands. The stock had previously closed at $63.10.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CELH. Wall Street Zen cut shares of Celsius from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Celsius in a report on Tuesday. Morgan Stanley set a $70.00 price target on shares of Celsius in a report on Tuesday, September 30th. The Goldman Sachs Group started coverage on shares of Celsius in a report on Thursday, September 11th. They set a "buy" rating and a $72.00 price target on the stock. Finally, UBS Group upped their price target on shares of Celsius from $64.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Nineteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Celsius currently has an average rating of "Moderate Buy" and an average target price of $63.15.

Celsius Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.76 and a current ratio of 2.11. The firm has a market capitalization of $16.96 billion, a P/E ratio of 178.57, a P/E/G ratio of 1.25 and a beta of 1.38. The stock's 50 day simple moving average is $58.00 and its 200 day simple moving average is $46.46.

Celsius (NASDAQ:CELH - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. The business had revenue of $739.30 million for the quarter, compared to the consensus estimate of $632.13 million. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The company's revenue for the quarter was up 83.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. As a group, analysts expect that Celsius Holdings Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder William H. Milmoe sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $47.50, for a total transaction of $4,750,000.00. Following the transaction, the insider directly owned 17,717,770 shares in the company, valued at approximately $841,594,075. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jarrod Langhans sold 5,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer owned 104,227 shares in the company, valued at approximately $6,253,620. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,667 shares of company stock valued at $29,740,162. 2.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celsius

A number of hedge funds and other institutional investors have recently modified their holdings of CELH. Alliancebernstein L.P. lifted its position in Celsius by 26.3% during the first quarter. Alliancebernstein L.P. now owns 18,045,178 shares of the company's stock valued at $642,769,000 after acquiring an additional 3,753,055 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in Celsius during the second quarter valued at approximately $59,382,000. Ilex Capital Partners UK LLP purchased a new stake in Celsius during the second quarter valued at approximately $55,966,000. Holocene Advisors LP lifted its position in Celsius by 130.6% during the second quarter. Holocene Advisors LP now owns 2,108,041 shares of the company's stock valued at $97,792,000 after acquiring an additional 1,193,707 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Celsius during the first quarter valued at approximately $39,412,000. 60.95% of the stock is currently owned by institutional investors.

Celsius Company Profile

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.

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