Conduit (LON:CRE) Hits New 52-Week Low – Here’s What Happened

Conduit Holdings Limited (LON:CRE) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 397.13 ($5.02) and last traded at GBX 406 ($5.13), with a volume of 1452306 shares traded. The stock had previously closed at GBX 437 ($5.52).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 700 ($8.84) price objective on shares of Conduit in a research report on Wednesday, February 12th.

Conduit Price Performance

The firm has a 50-day moving average of GBX 455.79 and a 200-day moving average of GBX 494.71. The stock has a market cap of £771.02 million, a PE ratio of 3.62 and a beta of 0.52.

About Conduit

Conduit Re is a pure play global reinsurance business based in Bermuda. 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.