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

Key Points

• CLS Holdings plc's stock has fallen below its 200-day moving average, trading as low as GBX 58.70, with a last traded price of GBX 62.40.
• Berenberg Bank has downgraded CLS's price target from GBX 100 to 85 while maintaining a "buy" rating, reflecting mixed sentiments among analysts.
• Insiders of CLS Holdings have been active in acquiring shares, purchasing over £2 million worth of stock in the last quarter, indicating confidence in the company.

Shares of CLS Holdings plc (LON:CLI - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 62.63 ($0.84) and traded as low as GBX 58.70 ($0.79). CLS shares last traded at GBX 62.40 ($0.84), with a volume of 819,434 shares trading hands.

Wall Street Analyst Weigh In

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

CLS Price 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 firm has a market cap of £248.02 million, a price-to-earnings ratio of -435.66 and a beta of 1.01. The stock's fifty day moving average price is GBX 59.51 and its 200-day moving average price is GBX 62.63.

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

Insiders Place Their Bets

In other CLS news, insider Bill Holland acquired 32,522 shares of CLS stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of GBX 61 per share, with a total value of £19,838.42. Insiders acquired 33,986 shares of company stock worth $2,073,791 over the last quarter. 60.55% of the stock is currently owned by insiders.

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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