Conduit (LON:CRE) Share Price Passes Below 200 Day Moving Average – Here’s Why

Conduit Holdings Limited (LON:CRE)’s share price crossed 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 trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 782 price target on shares of Conduit in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Conduit presently has an average rating of “Moderate Buy” and an average price target of GBX 536.50.

Conduit Price Performance

The firm has a market cap of £631.11 million, a P/E ratio of 5.78 and a beta of 0.59. The business’s fifty 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).