What's Going On With Celsius Holdings Shares Tuesday?

Zinger Key Points
  • Truist Securities initiated coverage on Celsius Holdings with a Hold rating and a $60 price target.
  • Despite beating EPS estimates in the previous quarter, Celsius Holdings' revenue fell short of expectations.

Celsius Holdings, Inc. CELH shares are trading lower on Tuesday afternoon. Here’s what you need to know.

What’s Happening: Truist Securities initiated coverage on the beverage company with a Hold rating and announced a price target of $60. Additionally, Morgan Stanley maintained an Equal-Weight rating and a $68 price target.

What Else: Moreover, in the previous quarter, Celsius Holdings reported actual EPS of 27 cents, beating the estimated 19 cents. The actual revenue of $355.71 million fell short of the estimated $389.86 million. For the upcoming second-quarter, the estimated EPS is 25 cents with estimated revenue of $417.99 million.

Celsius Holdings’ stock has however seen a session volume of 6.50 million, significantly higher than the average volume of 4.81 million over the past 100 days.

CELH Price Action: Celsius Holdings shares were down by 6.45% at $55.93 at the time of writing, according to Benzinga Pro.

See Also: Consumer Confidence Declines As Worries Over Economy Persist

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