Conduit (LON:CRE) Hits New 52-Week Low - Time to Sell?

Key Points

• Conduit Holdings Limited reached a new 52-week low, trading as low as GBX 296 ($3.98), with a significant trading volume of over 1 million shares.
• Analysts have mixed opinions on Conduit, with Royal Bank of Canada lowering their price target to GBX 300 ($4.03) while Berenberg Bank maintains a "buy" rating with a price target of GBX 700 ($9.40).
• Insider Neil David Eckert purchased 1,850 shares at an average price of GBX 369 ($4.96), indicating confidence in the company as insiders own 6.19% of the stock.

Conduit Holdings Limited (LON:CRE - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as GBX 296 ($4.01) and last traded at GBX 298 ($4.04), with a volume of 1039303 shares traded. The stock had previously closed at GBX 302 ($4.09).

Analyst Ratings Changes

A number of research firms recently weighed in on CRE. Royal Bank Of Canada lowered their price target on Conduit from GBX 400 ($5.42) to GBX 300 ($4.07) and set a "sector perform" rating on the stock in a report on Thursday, July 31st. Berenberg Bank restated a "buy" rating and issued a GBX 700 ($9.49) price target on shares of Conduit in a report on Wednesday, July 30th.

Conduit Stock Performance

The firm has a market cap of £558.91 million, a price-to-earnings ratio of 2.62 and a beta of 0.52. The business has a fifty day moving average of GBX 361.67 and a two-hundred day moving average of GBX 373.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.