CLS (LON:CLI) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

CLS Holdings plc (LON:CLI)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 48.34 and traded as high as GBX 50.20. CLS shares last traded at GBX 49.60, with a volume of 3,553,987 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their price objective on CLS from GBX 80 to GBX 58 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 64.

CLS Stock Performance

The company’s 50-day moving average is GBX 48.34 and its two-hundred day moving average is GBX 54.45. The company has a quick ratio of 0.59, a current ratio of 0.29 and a debt-to-equity ratio of 121.99. The company has a market cap of £197.46 million, a P/E ratio of -3.94 and a beta of 1.00.

Insiders Place Their Bets

In related news, insider Fredrik Widlund bought 100,000 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were purchased at an average cost of GBX 49 per share, for a total transaction of £49,000. Insiders have bought 120,664 shares of company stock valued at $5,855,068 in the last 90 days. 60.13% of the stock is 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.