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

CLS Holdings plc (LON:CLI) shares passed 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 traded.

Analysts Set New Price Targets

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

CLS Price Performance

The stock has a market cap of £201.44 million, a PE ratio of -4.02 and a beta of 1.00. The business’s 50-day simple moving average is GBX 48.20 and its 200-day simple moving average is GBX 53.04. The company has a quick ratio of 0.59, a current ratio of 0.29 and a debt-to-equity ratio of 121.99.

Insider Buying and Selling

In other CLS news, insider Fredrik Widlund acquired 100,000 shares of the company’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 three months, insiders purchased 120,408 shares of company stock worth $5,839,964. Corporate 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.