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

Key Points

• CLS Holdings plc shares fell below their 200-day moving average during Monday's trading, closing at GBX 57.90 ($0.78).
• Berenberg Bank downgraded CLS's price target from GBX 100 to GBX 85, while maintaining a "buy" rating for the stock.
• Company insiders have purchased 127,337 shares over the last quarter, indicating strong insider confidence, as they now own 60.55% of the company.

CLS Holdings plc (LON:CLI - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 63.97 ($0.86) and traded as low as GBX 57.60 ($0.78). CLS shares last traded at GBX 57.90 ($0.78), with a volume of 556,882 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on CLS from GBX 100 to GBX 85 and set a "buy" rating on the stock in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of GBX 85.

CLS Stock Up 1.4%

The stock has a 50-day simple moving average of GBX 61.92 and a two-hundred day simple moving average of GBX 63.97. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 123.30. The firm has a market cap of £233.69 million, a PE ratio of -410.49 and a beta of 1.01.

CLS (LON:CLI - Get Free Report) last released its quarterly 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%. Analysts expect that CLS Holdings plc will post 10.0104167 earnings per share for the current year.

Insider Transactions at CLS

In related news, insider Bill Holland acquired 32,522 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of GBX 61 per share, for a total transaction of £19,838.42. Also, insider Eva Lindqvist acquired 21,400 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was bought at an average price of GBX 70 per share, for a total transaction of £14,980. Over the last quarter, insiders have purchased 127,337 shares of company stock worth $8,539,791. Company insiders own 60.55% 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.

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