Conduit (LON:CRE) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Conduit Holdings Limited (LON:CREGet Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 348.47 ($4.71) and traded as low as GBX 295 ($3.99). Conduit shares last traded at GBX 306.62 ($4.14), with a volume of 561,287 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRE. Berenberg Bank reiterated a “buy” rating and issued a GBX 700 price objective on shares of Conduit in a research note on Monday, September 15th. Royal Bank Of Canada reduced their price objective on shares of Conduit from GBX 400 to GBX 300 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 500.

Check Out Our Latest Stock Analysis on Conduit

Conduit Stock Performance

The company’s fifty day simple moving average is GBX 314.27 and its two-hundred day simple moving average is GBX 348.47. The stock has a market capitalization of £485.49 million, a PE ratio of 3,878.13 and a beta of 0.52.

Conduit Company Profile

(Get Free Report)

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.

Further Reading

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