Conduit (LON:CRE) Share Price Passes Below 200-Day Moving Average - Here's Why

Key Points

• Conduit Holdings Limited's share price has fallen below its 200-day moving average of GBX 346.19, currently trading at GBX 341 ($4.59).
• Analysts have mixed outlooks for Conduit, with Royal Bank of Canada lowering its price target to GBX 300, while Berenberg Bank maintains a buy rating with a target of GBX 700.
• The company's market cap is approximately £535.96 million and it has a high price-to-earnings ratio of 4,281.25, indicating significant fluctuations in its stock value.

Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 346.19 ($4.65) and traded as low as GBX 330.50 ($4.44). Conduit shares last traded at GBX 341 ($4.59), with a volume of 314,772 shares.

Wall Street Analysts Forecast Growth

CRE has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on shares of Conduit from GBX 400 to GBX 300 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Berenberg Bank reaffirmed a "buy" rating and set a GBX 700 price target on shares of Conduit in a research report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Conduit presently has an average rating of "Moderate Buy" and an average target price of GBX 500.

Conduit Stock Performance

The firm has a market cap of £535.96 million, a price-to-earnings ratio of 4,281.25 and a beta of 0.52. The business's 50 day moving average price is GBX 307.35 and its 200-day moving average price is GBX 346.19.

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.

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