Short Interest in Leafly Holdings, Inc. (NASDAQ:LFLY) Increases By 22.5%

Leafly Holdings, Inc. (NASDAQ:LFLY) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 38,700 shares, a growth of 22.5% from the October 31st total of 31,600 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average trading volume of 602,900 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Leafly

An institutional investor recently bought a new position in Leafly stock. Renaissance Technologies LLC purchased a new stake in shares of Leafly Holdings, Inc. (NASDAQ:LFLY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,301 shares of the company’s stock, valued at approximately $33,000. Renaissance Technologies LLC owned about 0.66% of Leafly at the end of the most recent quarter. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Leafly Stock Performance

Shares of LFLY traded up $0.01 during mid-day trading on Monday, reaching $1.48. 4,188 shares of the company’s stock traded hands, compared to its average volume of 397,410. The business’s 50-day moving average price is $1.82 and its 200-day moving average price is $1.96. The stock has a market capitalization of $4.56 million, a P/E ratio of -0.64 and a beta of 0.95. Leafly has a 12 month low of $1.32 and a 12 month high of $6.40.

Wall Street Analysts Forecast Growth

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

Leafly Company Profile

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.