CLS (LON:CLI) Stock Crosses Below 200-Day Moving Average – Here’s Why

CLS Holdings plc (LON:CLI)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 53.97 and traded as low as GBX 46.55. CLS shares last traded at GBX 46.55, with a volume of 2,084,330 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price target on CLS from GBX 80 to GBX 58 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 64.

CLS Price Performance

The firm has a market cap of £185.32 million, a PE ratio of -3.69 and a beta of 1.00. The company has a debt-to-equity ratio of 121.99, a quick ratio of 0.59 and a current ratio of 0.29. The company’s 50-day simple moving average is GBX 48.23 and its two-hundred day simple moving average is GBX 53.97.

Insider Buying and Selling at CLS

In other CLS news, insider Fredrik Widlund bought 20,109 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of GBX 46 per share, with a total value of £9,250.14. Insiders have bought 120,664 shares of company stock worth $5,855,068 in the last ninety days. Corporate insiders own 60.13% of the company’s stock.

About CLS

We are a commercial property investment company with a £2.1bn portfolio listed on the Premium Main Market on the London Stock Exchange, specialising in future-focused office space in the UK, Germany and France. Through geographical diversification, local expertise and an active management approach, we transform office properties into sustainable, modern spaces that help our tenants’ businesses to grow.