What's Going On With Celsius Holdings Shares Today?
Celsius Holdings, Inc. (NASDAQ:CELH) shares are trading marginally higher today after falling over 10% yesterday.
According to Benzinga Pro, CELH stock has gained over 3.9% in the past year. Investors can gain exposure to the stock via BNY Mellon Innovators ETF (NASDAQ:BKIV) and Invesco S&P MidCap 400? GARP ETF (NYSE:GRPM).
Yesterday, TD Cowen analyst Vivien Azer maintained Celsius Holdings with a Buy rating, lowering the price target from $85 to $68.
In an article, the Wall Street Journal recently cautioned how companies like Celsius are misleading customers about being a part of their “fit lifestyle” that claims to have health benefits.
In fact, medical experts argue that Celsius’s claims about fat-burning and boosting metabolism are “misleading.”
“The studies they use to justify their claims have substantial design flaws with small sample sizes and were conducted over short periods of time,” says Aviva Musicus, science director at the Center for Science in the Public Interest, a nonprofit consumer advocacy group, The Wall Street Journal added.
Meanwhile, Celsius stock has been stuck in a downtrend since Nielsen data from May showed that the company’s sales growth and market share were moving in the wrong direction.
Morgan Stanley warned at the time that tough sales comparisons over the coming quarters could lead to a change in sentiment in Celsius Holdings stock. Multiple analysts have weighed in on the stock since with several of them pointing to an inventory reduction from PepsiCo, Inc. (NASDAQ:PEP).
Price Action: CELH shares are trading higher by 0.32% to $52.80 premarket at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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