Celsius (NASDAQ:CELH) is seeing strong trading volume following strong earnings

Celsius Holdings, Inc. (NASDAQ:CELH – Get Your Free Report ) saw unusually strong trading volume on Tuesday after the company reported better-than-expected quarterly earnings. About 2,938,275 shares were traded during mid-day trading, down 42% from the previous session’s volume of 5,101,869 shares. Shares last traded at $42.64 and previously closed at $41.35.

The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $391.07 million. Celsius had a net margin of 18.63% and a return on equity of 111.29%. The company’s revenue for the quarter was up 23.4% year over year. In the same quarter last year, the company earned $0.17 per share.

The Wall Street analyst weighs in

A number of research analysts recently issued reports on the stock. Maxim Group cut their price objective on shares of Celsius from $90.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Roth Mkm lowered their price objective on shares of Celsius from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. BNP Paribas initiated coverage on shares of Celsius in a research report on Monday, June 24th. They issued an “outperform” rating and a $87.00 price objective on the stock. UBS Group lowered their price objective on shares of Celsius from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on shares of Celsius from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. Celsius currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.91, according to MarketBeat.com.

Check out the latest stock report on Celsius

Insider buying and selling

In other news, Director Hal Kravitz sold 16,500 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $90.27, for a total value of $1,489,455.00. Following the transaction, the director now directly owns 201,282 shares of the company’s stock, valued at $18,169,726.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, Director Hal Kravitz sold 16,500 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $90.27, for a total value of $1,489,455.00. Following the transaction, the director now directly owns 201,282 shares of the company’s stock, valued at $18,169,726.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, major shareholder William H. Milmoe sold 40,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.95, for a total transaction of $3,718,000.00. Following the completion of the transaction, the insider now directly owns 226,245 shares in the company, valued at $21,029,472.75. The disclosure for this sale can be found here. 2.20% of shares are owned by corporate insiders.

Hedge funds weigh in on Celsius

A number of hedge funds have recently bought and sold shares of CELH. Transcendent Capital Group LLC bought a new position in Celsius in the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC bought a new position in Celsius in the first quarter valued at approximately $25,000. Tidemark LLC bought a new position in Celsius in the 4th quarter valued at approximately $29,000. Heritage Wealth Advisors raised its holdings in Celsius by 200.0% in the fourth quarter. Heritage Wealth Advisors now owns 552 shares of the company’s stock valued at $30,000 after purchasing an additional 368 shares during the period. Finally, SA Mason LLC bought a new position in Celsius in the 2nd quarter valued at about $30,000. 60.95% of shares are held by institutional investors.

Celsius stock performance

The stock has a market cap of $9.18 billion, a P/E ratio of 43.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.90. The company’s fifty-day simple moving average is $57.87, and its 200-day simple moving average is $69.51.

About Celsius

(Get a free report)

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

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