Conduit (LON:CRE) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Conduit Holdings Limited (LON:CRE)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 423.66 and traded as low as GBX 422.50. Conduit shares last traded at GBX 427.89, with a volume of 150,487 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a report on Friday, May 15th. Berenberg Bank reiterated a “buy” rating and set a GBX 782 price objective on shares of Conduit in a research report on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 536.50.

Conduit Stock Performance

The company has a market cap of £631.11 million, a P/E ratio of 5.78 and a beta of 0.59. The business’s 50 day simple moving average is GBX 450.31 and its 200 day simple moving average is GBX 423.66. The company has a current ratio of 696.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07.

About Conduit

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. The outlook assigned to these ratings is stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE).