Conduit (LON:CRE) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Conduit Holdings Limited (LON:CRE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 353.43 and traded as high as GBX 430. Conduit shares last traded at GBX 428, with a volume of 433,202 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group dropped their target price on Conduit from GBX 585 to GBX 374 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Peel Hunt restated a “buy” rating and issued a GBX 540 price objective on shares of Conduit in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Conduit presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 493.50.

Conduit Stock Up 0.5%

The business has a 50-day simple moving average of GBX 394.97 and a 200-day simple moving average of GBX 353.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.19 and a current ratio of 443.50. The company has a market cap of £657.07 million, a price-to-earnings ratio of 53.50 and a beta of 0.56.

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 positive.

Conduit Holdings Limited is the ultimate parent of Conduit Re and is listed on the London Stock Exchange