CLS (LON:CLI) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• CLS Holdings plc shares have fallen below their 200-day moving average, currently trading at GBX 62 ($0.84) compared to the average of GBX 66.36 ($0.90).
• Berenberg Bank has reaffirmed a "buy" rating for CLS shares with a price target set at GBX 100, indicating positive market sentiment.
• Insider purchases in the last three months have totaled 168,935 shares, highlighting significant confidence from corporate insiders in the company's future performance.

CLS Holdings plc (LON:CLI - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 66.36 ($0.89) and traded as low as GBX 61.40 ($0.83). CLS shares last traded at GBX 62 ($0.83), with a volume of 170,435 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 100 target price on shares of CLS in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 100.

CLS Stock Up 0.5%

The company has a debt-to-equity ratio of 123.30, a quick ratio of 0.59 and a current ratio of 0.73. The business's 50 day moving average is GBX 66.20 and its 200-day moving average is GBX 66.03. The firm has a market capitalization of £249.45 million, a price-to-earnings ratio of -1.21 and a beta of 1.01.

CLS (LON:CLI - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported GBX (6.10) earnings per share for the quarter. CLS had a negative net margin of 134.11% and a negative return on equity of 23.42%. Equities analysts anticipate that CLS Holdings plc will post 10.0104167 EPS for the current fiscal year.

Insider Transactions at CLS

In other news, insider Bill Holland acquired 32,522 shares of CLS stock in a transaction on Thursday, August 14th. The stock was bought at an average price of GBX 61 per share, for a total transaction of £19,838.42. Also, insider Fredrik Widlund purchased 41,669 shares of the stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of GBX 63 per share, for a total transaction of £26,251.47. In the last quarter, insiders bought 168,935 shares of company stock worth $11,164,995. Insiders own 66.38% 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.