CLS (LON:CLI) Shares Pass Above 200-Day Moving Average of $89.39

Shares of CLS Holdings plc (LON:CLI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 89.39 ($1.18) and traded as high as GBX 93.50 ($1.24). CLS shares last traded at GBX 91 ($1.20), with a volume of 93,473 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 114 ($1.51) price objective on shares of CLS in a research report on Monday, September 2nd.

CLS Stock 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 stock’s 50-day simple moving average is GBX 91.54 and its 200 day simple moving average is GBX 89.42. The stock has a market capitalization of £370.78 million, a P/E ratio of -179.42 and a beta of 1.01.

CLS Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Thursday, September 5th will be given a dividend of GBX 2.60 ($0.03) per share. The ex-dividend date is Thursday, September 5th. This represents a yield of 2.9%. CLS’s dividend payout ratio (DPR) is -1,538.46%.

About CLS

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.