Beverage company Celsius Holdings (NASDAQ:CELH) announced on Monday that it will be expanding into the UK after previously naming Suntory Beverage & Food Great Britain and Ireland as its exclusive sales and distribution partner in the region. Celsius CEO John Fieldly said he is enthusiastic about entering new markets and energizing more consumers.
Celsius has been experiencing significant success lately, as it’s averaged more than 100% annual revenue growth over the past three years. This has been reflected in the company’s share price, which is up over 120% in the past 12 months.
However, when it comes to “smart money,” money managers don’t seem to be all that confident in CELH stock. Indeed, they decreased their holdings by 1.3 million shares in the previous quarter. As a result, hedge funds have a very negative confidence signal, which led share prices to pull back significantly from their 52-week high of $99.62. Shares are also down over 1% in today’s session at the time of writing.
Is CELH a Good Investment?
Turning to Wall Street, analysts have a Strong Buy consensus rating on CELH stock based on nine Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. In addition, the average CELH price target of $96.22 per share implies 41.27% upside potential.
