Celsius (NASDAQ: CELH) stock plummeted during intraday trading, compounding substantial losses observed over the past two months.
Celsius stock has been stuck in a downtrend since Nielsen data from May revealed unfavorable sales growth and market share trends for the company.
Morgan Stanley warned at the time that tough sales comparisons over the coming quarters might alter investor sentiment towards Celsius Holdings’ stock. Since then, multiple analysts have weighed in on the stock, with several pointing to a decrease in inventory from PepsiCo (NASDAQ: PEP).
Here’s a summary of all the analyst updates from the past month:
- Morgan Stanley analyst Eric Serotta maintained Celsius with an Equal-Weight rating and lowered the price target from $75 to $68.
- Stifel analyst Mark Astrachan reiterated a Buy rating on Celsius but reduced the price target from $85 to $65.
- Wedbush analyst Gerald Pascarelli retained an Outperform rating on Celsius but reduced the price target from $85 to $83.
- Jefferies analyst Kaumil Gajrawala maintained a Buy rating on Celsius and lowered the price target from $104 to $98.
- TD Cowen analyst Vivien Azer kept a Buy rating on Celsius but slashed the price target to $85 from $95.
- Maxim Group analyst Anthony Vendetti reaffirmed a Buy rating on Celsius and lowered the price target from $110 to $90.
- Truist Securities analyst Bill Chappell initiated coverage on Celsius with a Hold rating and set a price target of $60.
- BofA Securities analyst Jonathan Keypour retained a Neutral rating on Celsius and decreased the price target from $84 to $60.
Celsius (NASDAQ: CELH) Stock Movement
CELH stock plunged 10.65% on Monday, closing at $52.63, marking a 6.12% decrease for the week. The trading volume was 13,572,555 shares, significantly higher than the average daily volume of 5.36 million.
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