CLS (LON:CLI) Shares Down 7.8% – Here’s Why

CLS Holdings plc (LON:CLI)’s share price dropped 7.8% during trading on Tuesday . The company traded as low as GBX 46.05 and last traded at GBX 48.20. 1,869,882 shares were traded during trading, an increase of 127% from the average session volume of 822,854 shares. The stock had previously closed at GBX 52.30.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLI. Berenberg Bank restated a “buy” rating and set a GBX 58 target price on shares of CLS in a research note on Tuesday. Peel Hunt reiterated a “reduce” rating and set a GBX 45 price target on shares of CLS in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 51.50.

CLS Stock Performance

The firm has a 50 day moving average of GBX 49.31 and a two-hundred day moving average of GBX 52.37. The company has a debt-to-equity ratio of 121.99, a current ratio of 0.29 and a quick ratio of 0.59. The stock has a market cap of £191.89 million, a PE ratio of -3.83 and a beta of 1.00.

Insider Buying and Selling

In related news, insider Fredrik Widlund purchased 20,109 shares of CLS stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of GBX 46 per share, with a total value of £9,250.14. 60.13% of the stock is owned by corporate 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.