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

Key Points

• CLS Holdings plc's stock price has fallen below its 200-day moving average, currently trading at GBX 65.80 ($0.89) compared to the average of GBX 67.57 ($0.91).
• Berenberg Bank has maintained a “buy” rating on CLS shares, with a price target set at GBX 114 ($1.54).
• Insiders have been actively purchasing shares, with a total of 135,959 shares bought over the past ninety days, indicating confidence in the company.

CLS Holdings plc (LON:CLI - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 67.57 ($0.91) and traded as low as GBX 65 ($0.88). CLS shares last traded at GBX 65.80 ($0.89), with a volume of 300,212 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 114 ($1.54) price target on shares of CLS in a report on Tuesday, April 1st.

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 capitalization of £261.01 million, a price-to-earnings ratio of -1.26 and a beta of 1.01. The business's fifty day simple moving average is GBX 65.82 and its 200 day simple moving average is GBX 67.57.

Insiders Place Their Bets

In other CLS news, insider Fredrik Widlund acquired 41,669 shares of the company's stock in a transaction on Monday, June 2nd. The shares were purchased at an average cost of GBX 63 ($0.85) per share, with a total value of £26,251.47 ($35,460.58). Also, insider Eva Lindqvist acquired 21,400 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was acquired at an average cost of GBX 70 ($0.95) per share, for a total transaction of £14,980 ($20,235.04). Over the last ninety days, insiders purchased 135,959 shares of company stock worth $9,151,189. 66.38% of the stock is currently owned by company 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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