Celsius (NASDAQ:CELH) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Celsius (NASDAQ:CELH) from a "buy" rating to a "hold" rating, reflecting changing analyst sentiment about the stock.
• Despite the downgrade, several research firms have issued varied ratings, with a consensus average price target of $52.28 and 15 analysts still rating the stock as a "buy."
• Celsius reported strong quarterly results, with a revenue increase of 83.9% year-over-year, and earnings per share beating analysts' estimates.

Wall Street Zen downgraded shares of Celsius (NASDAQ:CELH - Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other research firms also recently weighed in on CELH. B. Riley reiterated a "buy" rating and issued a $56.00 target price (up previously from $52.00) on shares of Celsius in a research note on Friday, August 8th. TD Cowen upgraded shares of Celsius from a "hold" rating to a "buy" rating and lifted their target price for the stock from $37.00 to $55.00 in a research note on Monday, June 16th. Bank of America lifted their target price on shares of Celsius from $35.00 to $40.00 and gave the stock an "underperform" rating in a research note on Friday, August 8th. Piper Sandler boosted their price objective on shares of Celsius from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Stephens reaffirmed an "overweight" rating on shares of Celsius in a research note on Monday, August 11th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Celsius has an average rating of "Moderate Buy" and an average target price of $52.28.

Celsius Stock Up 2.7%

NASDAQ:CELH traded up $1.6580 during trading hours on Friday, reaching $62.1280. The company had a trading volume of 3,434,002 shares, compared to its average volume of 8,233,866. The company has a quick ratio of 1.76, a current ratio of 2.11 and a debt-to-equity ratio of 0.68. The firm has a market cap of $16.03 billion, a price-to-earnings ratio of 167.38, a P/E/G ratio of 1.40 and a beta of 1.40. The business's 50-day simple moving average is $46.86 and its two-hundred day simple moving average is $37.68. Celsius has a twelve month low of $21.10 and a twelve month high of $62.39.

Celsius (NASDAQ:CELH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.24. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The company had revenue of $739.30 million for the quarter, compared to analyst estimates of $632.13 million. During the same period last year, the firm earned $0.28 earnings per share. The firm's revenue was up 83.9% on a year-over-year basis. On average, equities analysts expect that Celsius will post 0.89 earnings per share for the current year.

Insider Activity

In other news, CFO Jarrod Langhans sold 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief financial officer directly owned 104,227 shares of the company's stock, valued at $6,253,620. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Fieldly sold 143,167 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $51.18, for a total transaction of $7,327,287.06. Following the completion of the transaction, the chief executive officer owned 895,410 shares in the company, valued at approximately $45,827,083.80. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,116,141 shares of company stock valued at $52,541,605 in the last three months. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Celsius

Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its holdings in Celsius by 3.4% in the 2nd quarter. Alliancebernstein L.P. now owns 18,662,921 shares of the company's stock worth $865,773,000 after acquiring an additional 617,743 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Celsius by 60.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock worth $181,164,000 after acquiring an additional 2,591,345 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Celsius by 12.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,682,225 shares of the company's stock worth $70,650,000 after acquiring an additional 298,565 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Celsius by 20.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,470,088 shares of the company's stock worth $114,587,000 after acquiring an additional 426,623 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Celsius by 1.8% in the 1st quarter. Invesco Ltd. now owns 2,394,811 shares of the company's stock worth $85,303,000 after acquiring an additional 42,997 shares in the last quarter. Institutional investors own 60.95% of the company's stock.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.