Conduit (LON:CRE) Stock Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Conduit Holdings Limited stock has fallen below its 200-day moving average of GBX 348.47, trading recently at GBX 306.62, prompting questions about potential sell signals.
• Brokerages have mixed forecasts for Conduit, with Berenberg Bank maintaining a "buy" rating and a price target of GBX 700, while Royal Bank of Canada reduced their target to GBX 300.
• The stock currently holds a consensus rating of "Moderate Buy" with an average price target of GBX 500, despite a significant PE ratio of 3,878.13.

Conduit Holdings Limited (LON:CRE - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 348.47 ($4.71) and traded as low as GBX 295 ($3.99). Conduit shares last traded at GBX 306.62 ($4.14), with a volume of 561,287 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRE. Berenberg Bank reiterated a "buy" rating and issued a GBX 700 price objective on shares of Conduit in a research note on Monday, September 15th. Royal Bank Of Canada reduced their price objective on shares of Conduit from GBX 400 to GBX 300 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 500.

Conduit Stock Performance

The company's fifty day simple moving average is GBX 314.27 and its two-hundred day simple moving average is GBX 348.47. The stock has a market capitalization of £485.49 million, a PE ratio of 3,878.13 and a beta of 0.52.

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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