Celsius (NASDAQ:CELH) Sees Strong Trading Volume Following Earnings Beat

Celsius Holdings, Inc. (NASDAQ:CELH) saw an uptick in trading volume on Friday after the company announced better than expected quarterly earnings. 20,491,013 shares were traded during mid-day trading, an increase of 129% from the previous session’s volume of 8,938,911 shares.The stock last traded at $31.94 and had previously closed at $25.53.

The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $332.20 million during the quarter, compared to analysts’ expectations of $326.07 million. Celsius had a return on equity of 51.89% and a net margin of 10.70%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CELH. Roth Mkm reiterated a “buy” rating and set a $38.00 price target on shares of Celsius in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Celsius in a research report on Thursday, December 12th. They issued a “hold” rating and a $32.00 price objective for the company. TD Cowen cut Celsius from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $29.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. assumed coverage on Celsius in a research report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Jefferies Financial Group cut their price objective on Celsius from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.67.

Insiders Place Their Bets

In other Celsius news, major shareholder William H. Milmoe sold 65,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.15, for a total transaction of $2,024,750.00. Following the transaction, the insider now owns 261,245 shares of the company’s stock, valued at approximately $8,137,781.75. The trade was a 19.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celsius

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Celsius by 19.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,381,279 shares of the company’s stock valued at $43,317,000 after buying an additional 221,833 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Celsius by 85.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 58,178 shares of the company’s stock valued at $1,532,000 after buying an additional 26,801 shares during the period. Van ECK Associates Corp increased its holdings in Celsius by 169.8% during the 3rd quarter. Van ECK Associates Corp now owns 29,324 shares of the company’s stock worth $893,000 after purchasing an additional 18,456 shares during the period. Savoir Faire Capital Management L.P. increased its holdings in Celsius by 17.1% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 173,518 shares of the company’s stock worth $5,442,000 after purchasing an additional 25,315 shares during the period. Finally, iA Global Asset Management Inc. purchased a new stake in Celsius during the 3rd quarter worth about $2,772,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Celsius Trading Up 27.8 %

The company has a fifty day simple moving average of $26.02 and a two-hundred day simple moving average of $30.30. The company has a market cap of $7.67 billion, a PE ratio of 74.14, a P/E/G ratio of 2.90 and a beta of 1.78.

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.