CLS (LON:CLI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of CLS Holdings plc (LON:CLI) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 53.52 and traded as low as GBX 48.90. CLS shares last traded at GBX 49.20, with a volume of 344,981 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their target price on shares of CLS from GBX 80 to GBX 58 and set a “buy” rating for the company in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, CLS presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 64.

CLS Trading Down 2.2%

The company has a quick ratio of 0.59, a current ratio of 0.29 and a debt-to-equity ratio of 121.99. The firm has a market capitalization of £191.49 million, a PE ratio of -3.82 and a beta of 1.00. The stock’s fifty day simple moving average is GBX 48.26 and its 200 day simple moving average is GBX 53.52.

Insider Activity at CLS

In related news, insider Fredrik Widlund acquired 20,109 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of GBX 46 per share, with a total value of £9,250.14. In the last ninety days, insiders acquired 120,664 shares of company stock valued at $5,855,068. 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.