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

CLS Holdings plc (LON:CLI)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 53.05 and traded as low as GBX 47.95. CLS shares last traded at GBX 50.20, with a volume of 121,166 shares trading hands.

Analyst Upgrades and Downgrades

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

CLS Stock Performance

The firm has a market cap of £199.85 million, a price-to-earnings ratio of -3.98 and a beta of 1.00. 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 stock has a fifty day moving average price of GBX 48.20 and a 200-day moving average price of GBX 53.05.

Insiders Place Their Bets

In other news, insider Fredrik Widlund acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were purchased at an average cost of GBX 49 per share, for a total transaction of £49,000. In the last 90 days, insiders have acquired 120,408 shares of company stock valued at $5,839,964. Company insiders own 60.13% of the company’s stock.

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.