CLS (LON:CLI) Shares Cross Below 200-Day Moving Average – Here’s What Happened

CLS Holdings plc (LON:CLI)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Analyst Upgrades and Downgrades

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

CLS Stock Performance

The company has a market capitalization of £191.49 million, a P/E ratio of -3.82 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. The business’s fifty day simple moving average is GBX 48.26 and its 200-day simple moving average is GBX 53.52.

Insiders Place Their Bets

In other news, insider Fredrik Widlund acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were acquired at an average cost of GBX 49 per share, with a total value of £49,000. In the last three months, insiders purchased 120,664 shares of company stock worth $5,855,068. Company 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.