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

Key Points

• CLS Holdings plc's stock price fell below its 200-day moving average of GBX 63.10, trading as low as GBX 59.98 during recent trading.
• Berenberg Bank downgraded CLS's price target from GBX 100 to GBX 85, while maintaining a "buy" rating for the stock.
• Insider Bill Holland purchased 32,522 shares at GBX 61, contributing to a total of 33,503 shares acquired by insiders in the last quarter.

CLS Holdings plc (LON:CLI - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 63.10 ($0.85) and traded as low as GBX 59.98 ($0.80). CLS shares last traded at GBX 61 ($0.82), with a volume of 250,030 shares trading hands.

Analysts Set New Price Targets

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

CLS Stock Performance

The company has a market capitalization of £242.05 million, a price-to-earnings ratio of -425.17 and a beta of 1.01. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 123.30. The stock's fifty day simple moving average is GBX 60.21 and its 200-day simple moving average is GBX 63.10.

CLS (LON:CLI - Get Free Report) last announced its quarterly earnings data 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 predict that CLS Holdings plc will post 10.0104167 EPS for the current year.

Insider Buying and Selling at CLS

In other news, insider Bill Holland acquired 32,522 shares of CLS stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of GBX 61 per share, for a total transaction of £19,838.42. In the last quarter, insiders have acquired 33,503 shares of company stock valued at $2,043,845. 60.55% 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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