CLS (LON:CLI) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

CLS Holdings plc (LON:CLI)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 48.34 and traded as high as GBX 50.20. CLS shares last traded at GBX 49.60, with a volume of 3,553,987 shares traded.

Wall Street Analyst Weigh In

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

CLS Price Performance

The firm’s 50 day moving average price is GBX 48.34 and its two-hundred day moving average price is GBX 54.45. The company has a market cap of £197.46 million, a P/E ratio of -3.94 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.

Insiders Place Their Bets

In related news, insider Fredrik Widlund purchased 100,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was acquired at an average price of GBX 49 per share, for a total transaction of £49,000. Over the last quarter, insiders have bought 120,664 shares of company stock valued at $5,855,068. 60.13% of the stock is currently owned by company insiders.

CLS Company Profile

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.