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

Shares of CLS Holdings plc (LON:CLI) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 52.77 and traded as low as GBX 51.50. CLS shares last traded at GBX 52.20, with a volume of 189,382 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their target price 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 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 company has an average rating of “Moderate Buy” and an average price target of GBX 64.

CLS Stock Performance

The company has a debt-to-equity ratio of 121.99, a current ratio of 0.29 and a quick ratio of 0.59. The stock’s 50 day simple moving average is GBX 48.72 and its two-hundred day simple moving average is GBX 52.77. The stock has a market cap of £207.81 million, a P/E ratio of -4.14 and a beta of 1.00.

Insider Activity at CLS

In related news, insider Fredrik Widlund acquired 20,109 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of GBX 46 per share, for a total transaction of £9,250.14. Insiders have acquired 120,408 shares of company stock worth $5,839,964 in the last quarter. 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.