Leafly (NASDAQ:LFLY) Trading Up 1.3% – Should You Buy?

Leafly Holdings, Inc. (NASDAQ:LFLY) shares were up 1.3% during trading on Friday . The company traded as high as $1.68 and last traded at $1.64. Approximately 17,148 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 18,174 shares. The stock had previously closed at $1.62.

Wall Street Analysts Forecast Growth

Separately, Westpark Capital reissued a “buy” rating and set a $9.18 target price on shares of Leafly in a research note on Friday, November 8th.

Leafly Trading Up 1.3 %

The stock has a market capitalization of $5.03 million, a price-to-earnings ratio of -0.71 and a beta of 0.91. The firm’s fifty day moving average price is $1.54 and its 200 day moving average price is $1.88.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Leafly stock. Renaissance Technologies LLC bought a new stake in shares of Leafly Holdings, Inc. (NASDAQ:LFLY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,301 shares of the company’s stock, valued at approximately $33,000. Renaissance Technologies LLC owned 0.66% of Leafly at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.55% of the company’s stock.

About Leafly

Leafly Holdings, Inc owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. The company offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.