CLS (LON:CLI) Shares Down 7.8% – Here’s What Happened

Shares of CLS Holdings plc (LON:CLI) fell 7.8% during mid-day trading on Tuesday . The stock traded as low as GBX 46.05 and last traded at GBX 48.20. Approximately 1,869,882 shares were traded during trading, an increase of 127% from the average session volume of 822,854 shares. The stock had previously closed at GBX 52.30.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLI. Peel Hunt reaffirmed a “reduce” rating and issued a GBX 45 target price on shares of CLS in a research note on Tuesday. Berenberg Bank reaffirmed a “buy” rating and set a GBX 58 price objective on shares of CLS in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 51.50.

CLS Price Performance

The company’s 50 day moving average price is GBX 49.27 and its 200-day moving average price is GBX 52.21. The company has a market capitalization of £193.88 million, a PE ratio of -3.87 and a beta of 1.00. The company has a current ratio of 0.29, a quick ratio of 0.59 and a debt-to-equity ratio of 121.99.

Insider Activity at CLS

In other news, insider Fredrik Widlund acquired 20,109 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of GBX 46 per share, for a total transaction of £9,250.14. 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.