Celsius Holdings Stock Hit 52-Week Lows On Monday: What's Going On?

Celsius Holdings Inc. CELH shares traded lower on Monday, falling to new 52-week lows. Here’s what you need to know.

What To Know: Celsius shares reached new 52-week lows on Monday as the company continues to battle slowing growth trends. Celsius shares are now down about 47% since the start of the year.

The beverage company’s stock was off to a strong start at the beginning of the year before weaker consumer spending trends began to impact discretionary names. Celsius, in particular, has grappled with market share declines on the back of softer demand.

According to a Barron’s report citing management commentary out of a recent conference, Celsius was seeing sales growth of greater than 50% at the start of the year, but growth has fallen to around 10% in the current quarter.

Recent analyst coverage coincides with stock performance trends. Several analysts have downgraded or cut price targets in recent months, according to Benzinga’s analyst data. Piper Sandler and Roth MKM were the latest analysts to lower price targets, with Piper cutting to $47 and Roth MKM cutting to $43 near the end of September.

Just last month, the selloff in Celsius shares accelerated to the downside after the company said PepsiCo Inc.PEP was scaling back orders to optimize its inventory. Celsius said it expected its distribution partner to reduce orders by about $100 million.

What Else: Celsius shares have been seeing increased attention across various social platforms as the stock continues to trend lower. The stock was among the top trending names on Stocktwits for a majority of Monday’s trading session. Traders appear to be trying to catch a bounce with shares down nearly 10% over the past week. Celsius’ 50-day moving average is around $36.98, well above its current price.

Celsius on Monday announced the debut of two new flavors under its Celsius Essentials line: Watermelon Ice and Grape Slush. The new flavors are expected to become available early next year. Celsius noted that it will be exhibiting the new flavors at NACS 2024. MMA fighter Dustin Poirier will host a fan meet and greet at the company’s booth.

CELH Price Action: Celsius Holdings has a 52-week high of $99.61. The stock hit 52-week lows on Monday, closing the day down 4.73% at $28.82, according to Benzinga Pro.

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