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

Shares of CLS Holdings plc (LON:CLI) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 52.77 and traded as low as GBX 51.50. CLS shares last traded at GBX 52.20, with a volume of 189,382 shares traded.

Wall Street Analysts Forecast Growth

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

CLS Stock Performance

The stock’s 50-day moving average price is GBX 48.72 and its 200 day moving average price is GBX 52.77. The firm has a market cap of £207.81 million, a P/E ratio of -4.14 and a beta of 1.00. The company has a debt-to-equity ratio of 121.99, a current ratio of 0.29 and a quick ratio of 0.59.

Insider Transactions at CLS

In other CLS news, insider Fredrik Widlund purchased 20,109 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of GBX 46 per share, with a total value of £9,250.14. In the last quarter, insiders have acquired 120,408 shares of company stock valued at $5,839,964. 60.13% of the stock is currently owned by insiders.

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.