Conduit (LON:CRE) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Conduit Holdings Limited (LON:CRE) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 427.04 and traded as low as GBX 425.50. Conduit shares last traded at GBX 430.50, with a volume of 288,391 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRE shares. Royal Bank Of Canada increased their price target on shares of Conduit from GBX 390 to GBX 450 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. Berenberg Bank reissued a “buy” rating and issued a GBX 782 target price on shares of Conduit in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock 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 £644.54 million, a PE ratio of 5.91 and a beta of 0.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 696.25 and a quick ratio of 1.19. The firm has a 50-day simple moving average of GBX 447.58 and a 200 day simple moving average of GBX 427.11.

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).