Leafly Holdings, Inc. (NASDAQ:LFLY) Sees Large Growth in Short Interest

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

Leafly Price Performance

Shares of NASDAQ:LFLY traded up $0.01 during trading on Monday, hitting $1.48. 3,912 shares of the company’s stock were exchanged, compared to its average volume of 397,409. Leafly has a 52-week low of $1.32 and a 52-week high of $6.40. The business’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $1.96. The company has a market cap of $4.55 million, a price-to-earnings ratio of -0.64 and a beta of 0.95.

Analyst Ratings Changes

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

Institutional Trading of Leafly

A hedge fund recently bought a new stake in Leafly stock. Renaissance Technologies LLC bought a new position in shares of Leafly Holdings, Inc. (NASDAQ:LFLY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,301 shares of the company’s stock, valued at approximately $33,000. Renaissance Technologies LLC owned approximately 0.66% of Leafly at the end of the most recent quarter. 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.