Celsius (NASDAQ:CELH) Sees Large Volume Increase After Strong Earnings

Shares of Celsius Holdings, Inc. (NASDAQ:CELH) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 4,799,901 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 4,662,873 shares.The stock last traded at $75.81 and had previously closed at $78.33.

The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Celsius had a net margin of 17.21% and a return on equity of 131.58%. The company had revenue of $355.70 million during the quarter, compared to the consensus estimate of $390.37 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Celsius’s revenue was up 36.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Celsius from $76.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Maxim Group raised their target price on shares of Celsius from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Jefferies Financial Group raised their target price on shares of Celsius from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 target price on shares of Celsius in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus reduced their price target on shares of Celsius from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.95.

Insider Buying and Selling

In other news, Director Nicholas Castaldo sold 165,000 shares of Celsius stock in a transaction on Monday, March 4th. The shares were sold at an average price of $83.33, for a total transaction of $13,749,450.00. Following the transaction, the director now owns 352,864 shares in the company, valued at approximately $29,404,157.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Kyle Audrey Watson sold 40,000 shares of Celsius stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $89.17, for a total transaction of $3,566,800.00. Following the transaction, the chief marketing officer now owns 75,060 shares in the company, valued at approximately $6,693,100.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas Castaldo sold 165,000 shares of Celsius stock in a transaction on Monday, March 4th. The shares were sold at an average price of $83.33, for a total transaction of $13,749,450.00. Following the transaction, the director now owns 352,864 shares in the company, valued at approximately $29,404,157.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,045,196 shares of company stock worth $131,499,404. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CELH. Cary Street Partners Investment Advisory LLC increased its holdings in Celsius by 1,350.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 145 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Celsius in the 4th quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in Celsius in the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new stake in Celsius in the 1st quarter valued at $25,000. Finally, Tidemark LLC bought a new stake in Celsius in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Celsius Stock Performance

The business’s fifty day moving average price is $81.43 and its two-hundred day moving average price is $66.08. The stock has a market capitalization of $18.96 billion, a P/E ratio of 106.58, a P/E/G ratio of 2.22 and a beta of 1.93.

Celsius Company Profile

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.