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

Leafly Holdings, Inc. (NASDAQ:LFLY) saw a significant increase in short interest in 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. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 602,900 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Leafly

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

Leafly Stock Performance

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

Wall Street Analyst Weigh In

Separately, Westpark Capital reaffirmed 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.