Conduit (LON:CRE) Shares Pass Above 200-Day Moving Average – Should You Sell?

Conduit Holdings Limited (LON:CRE)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 414.30 and traded as high as GBX 450.50. Conduit shares last traded at GBX 449.50, with a volume of 275,570 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRE shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 782 price target on shares of Conduit in a research report on Wednesday, May 13th. Royal Bank Of Canada increased their price objective on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 536.50.

Conduit Stock Performance

The company has a market capitalization of £665.79 million, a PE ratio of 6.07 and a beta of 0.59. The business’s fifty day moving average is GBX 447.03 and its two-hundred day moving average is GBX 414.30. The company has a current ratio of 696.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07.

Insider Activity at Conduit

In other Conduit news, insider Neil David Eckert sold 4,850 shares of Conduit stock in a transaction on Monday, March 23rd. The stock was sold at an average price of GBX 407, for a total value of £19,739.50. Insiders own 1.81% of the company’s stock.

Conduit Company Profile

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).