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Conduit (LON:CRE) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Conduit logo with Financial Services background

Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 395.53 ($5.38) and traded as low as GBX 370.50 ($5.04). Conduit shares last traded at GBX 375.50 ($5.10), with a volume of 207,772 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 700 ($9.52) price objective on shares of Conduit in a research note on Monday, March 31st.

Check Out Our Latest Report on Conduit

Conduit Trading Up 0.1%

The company's 50-day simple moving average is GBX 374.55 and its 200-day simple moving average is GBX 395.53. The stock has a market capitalization of £755.94 million, a price-to-earnings ratio of 3.55 and a beta of 0.52.

Insider Transactions at Conduit

In other Conduit news, insider Neil David Eckert acquired 1,850 shares of Conduit stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of GBX 369 ($5.02) per share, for a total transaction of £6,826.50 ($9,280.18). Insiders own 6.19% of the company's stock.

Conduit Company Profile

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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