CLS (LON:CLI) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

CLS Stock Down 2.9%

The business’s fifty day moving average price is GBX 48.22 and its two-hundred day moving average price is GBX 53.41. 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 firm has a market capitalization of £187.71 million, a P/E ratio of -3.74 and a beta of 1.00.

Insider Buying and Selling

In other news, insider Fredrik Widlund bought 20,109 shares of the stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of GBX 46 per share, for a total transaction of £9,250.14. Insiders have purchased a total of 120,664 shares of company stock worth $5,855,068 over the last three months. 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.