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

Key Points

• Conduit Holdings Limited (LON:CRE) shares fell below their 200-day moving average, trading as low as GBX 290.50 ($3.92), while the current trading price is GBX 295 ($3.98).
• Analyst ratings are mixed, with Royal Bank Of Canada reducing their price target to GBX 300, while Berenberg Bank maintains a "buy" rating with a target of GBX 700.
• Conduit has a market capitalization of £592.09 million, a P/E ratio of 2.78, and holds a Financial Strength Rating of A- from A.M. Best.

Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 364.66 ($4.92) and traded as low as GBX 290.50 ($3.92). Conduit shares last traded at GBX 295 ($3.98), with a volume of 422,513 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRE. Berenberg Bank reissued a "buy" rating and issued a GBX 700 price target on shares of Conduit in a report on Wednesday, July 30th. Royal Bank Of Canada lowered their price target on shares of Conduit from GBX 400 to GBX 300 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Conduit has a consensus rating of "Moderate Buy" and a consensus target price of GBX 500.

Conduit Stock Down 0.2%

The company's fifty day moving average price is GBX 342.84 and its 200 day moving average price is GBX 361.48. The company has a market capitalization of £469.45 million, a P/E ratio of 3,750.00 and a beta of 0.52.

About Conduit

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.