CLS (LON:CLI) Shares Cross Above 200-Day Moving Average - Here's Why

CLS Holdings plc (LON:CLI - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 90.51 ($1.18) and traded as high as GBX 98.70 ($1.28). CLS shares last traded at GBX 98.70 ($1.28), with a volume of 487,847 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 114 ($1.48) price objective on shares of CLS in a research note on Monday, September 2nd.

CLS Price Performance

The company has a 50 day moving average of GBX 93.34 and a 200 day moving average of GBX 90.51. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 123.30. The stock has a market capitalization of £391.45 million, a price-to-earnings ratio of -186.92 and a beta of 1.01.

CLS Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Investors of record on Thursday, September 5th were issued a GBX 2.60 ($0.03) dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a yield of 2.9%. CLS's payout ratio is -1,538.46%.

CLS Company Profile

CLS Holdings plc, together with its subsidiaries, engages in the investment, development, and management of commercial properties in the United Kingdom, Germany, and France. The company operates in two segments, Investment Properties and Other Investments. It also invests in a hotel and other corporate investments.

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