Conduit (LON:CRE) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

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) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 364.66 ($4.94) and traded as low as GBX 290.50 ($3.94). Conduit shares last traded at GBX 295 ($4.00), with a volume of 422,513 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRE shares. Royal Bank Of Canada cut their price target on Conduit from GBX 400 to GBX 300 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. Berenberg Bank reaffirmed a "buy" rating and set a GBX 700 price target on shares of Conduit in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 500.

Conduit Stock Performance

The company has a market cap of £464.76 million, a P/E ratio of 3,712.50 and a beta of 0.52. The firm has a 50 day moving average price of GBX 340.98 and a 200-day moving average price of GBX 359.93.

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.