Celsius Holdings, Inc. (NASDAQ:CELH) shares are trading lower on Tuesday afternoon. Here's what you need to know.

What's Happening: Truist Securities initiated coverage on the beverage company with a Hold rating and announced a price target of $60. Additionally, Morgan Stanley maintained an Equal-Weight rating and a $68 price target.

What Else: Moreover, in the previous quarter, Celsius Holdings reported actual EPS of 27 cents, beating the estimated 19 cents. The actual revenue of $355.71 million fell short of the estimated $389.86 million. For the upcoming second-quarter, the estimated EPS is 25 cents with estimated revenue of $417.99 million.

Celsius Holdings' stock has however seen a session volume of 6.50 million, significantly higher than the average volume of 4.81 million over the past 100 days.

CELH Price Action: Celsius Holdings shares were down by 6.45% at $55.93 at the time of writing, according to Benzinga Pro.

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