Leafly (NASDAQ:LFLY – Get Rating) issued its earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03, reports. The company had revenue of $11.78 million for the quarter, compared to the consensus estimate of $11.75 million. Leafly updated its FY 2022 guidance to EPS.
Leafly Stock Up 15.1 %
Shares of Leafly stock traded up $0.12 during trading hours on Friday, reaching $0.92. The company’s stock had a trading volume of 429,338 shares, compared to its average volume of 595,531. Leafly has a one year low of $0.59 and a one year high of $11.58. The company has a market capitalization of $36.69 million, a P/E ratio of 15.34 and a beta of 1.46. The stock’s fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $4.25. The company has a debt-to-equity ratio of 131.75, a quick ratio of 2.60 and a current ratio of 2.60.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Cowen cut their target price on shares of Leafly from $12.00 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, August 12th. Benchmark dropped their price objective on shares of Leafly from $12.00 to $6.50 in a research note on Friday, August 12th. Finally, Cowen dropped their price objective on shares of Leafly from $12.00 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, August 12th.
Insider Buying and Selling at Leafly
Institutional Trading of Leafly
Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in Leafly during the first quarter worth about $31,000. JPMorgan Chase & Co. purchased a new stake in Leafly during the first quarter worth about $41,000. RiverPark Advisors LLC purchased a new stake in Leafly during the first quarter worth about $43,000. Northern Trust Corp increased its holdings in Leafly by 12.9% during the second quarter. Northern Trust Corp now owns 51,112 shares of the company’s stock worth $230,000 after buying an additional 5,853 shares during the last quarter. Finally, Skaana Management L.P. purchased a new stake in Leafly during the first quarter worth about $89,000. Hedge funds and other institutional investors own 22.89% of the company’s stock.
Leafly Holdings, Inc owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. It offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers and brands; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.
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