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

Key Points

• CLS Holdings plc shares have fallen below their 200-day moving average, trading as low as GBX 57 and closing at GBX 60.20 on Tuesday.
• Berenberg Bank has lowered its target price for CLS from GBX 100 to GBX 85 but maintains a "buy" rating for the stock.
• Recently, insider Bill Holland purchased over 32,000 shares, suggesting confidence in the company's future prospects, with insiders owning 60.55% of the stock.

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 63.43 ($0.85) and traded as low as GBX 57 ($0.77). CLS shares last traded at GBX 60.20 ($0.81), with a volume of 1,039,508 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their target price 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 research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of GBX 85.

CLS Stock Performance

The company has a debt-to-equity ratio of 123.30, a current ratio of 0.73 and a quick ratio of 0.59. The stock has a 50-day simple moving average of GBX 60.78 and a 200-day simple moving average of GBX 63.43. The stock has a market cap of £240.42 million, a P/E ratio of -422.30 and a beta of 1.01.

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

Insider Buying and Selling at CLS

In other news, insider Bill Holland purchased 32,522 shares of CLS stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of GBX 61 per share, for a total transaction of £19,838.42. Insiders bought 33,937 shares of company stock worth $2,073,791 in the last quarter. Insiders own 60.55% of the company's stock.

About CLS

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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