Clever Leaves Holdings Inc. (NASDAQ: CLVR) benefited from a significant drop in short interest during the month of November. As of November 30, there was short interest totaling 1,220,000 shares, a decrease of 21.3% from the total of 1,550,000 shares as of November 15. Based on an average trading volume of 164,800 shares, the day-to-coverage ratio is currently 7.4 days.
Several large investors have recently increased or reduced their stakes in the company. BlackRock Inc. increased its holdings of Clever Leaves shares by 9.7% in the 2nd quarter. BlackRock Inc. now owns 349,743 shares of the company valued at $ 3,551,000 after purchasing an additional 31,068 shares in the last quarter. Vanguard Group Inc. increased its stake in Clever Leaves by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 254,721 shares of the company valued at $ 2,585,000 after purchasing an additional 11,392 shares in the last quarter. Geode Capital Management LLC increased its stake in Clever Leaves by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 165,559 shares of the company valued at $ 1,680,000 after purchasing an additional 8,187 shares in the last quarter. State Street Corp acquired a new stake in Clever Leaves in the second quarter for a value of approximately $ 666,000. Finally, Vident Investment Advisory LLC acquired a new stake in Clever Leaves in the third quarter for a value of approximately $ 228,000. Institutional investors and hedge funds hold 23.94% of the company’s shares.
The NASDAQ CLVR traded down $ 0.04 in Friday’s session, reaching $ 3.86. 236,398 shares of the company were traded for an average volume of 493,550. The company has a current ratio of 2.09, a quick ratio of 1.65 and a debt ratio of 0.15. The company’s 50-day simple moving average is $ 5.75 and its two-hundred-day simple moving average is $ 8.25. Clever Leaves has a 12 month low of $ 3.69 and a 12 month high of $ 19.46.
Clever Leaves (NASDAQ: CLVR) last released its results on Wednesday, November 10. The company reported ($ 0.44) EPS for the quarter. The company reported sales of $ 4.03 million for the quarter. Clever Leaves had a negative net margin of 173.72% and a negative return on equity of 36.21%.
Several research firms have commented on CLVR. Cowen lowered his price target for Clever Leaves shares from $ 11.00 to $ 6.00 and established an “outperformance” rating for the company in a research report released on Friday, November 12. Canaccord Genuity lowered its target price for Clever Leaves shares from $ 13.00 to $ 12.00 and established a “buy” rating for the company in a report released on Friday, November 12.
Clever Leaves Company Profile
Clever Leaves Holdings Inc grows, extracts, manufactures and markets pharmaceutical grade cannabinoid products in Colombia, Portugal, Germany, United States and Canada. The company operates through two segments, cannabinoids and non-cannabinoids. It is also engaged in the formulation, manufacture, marketing, distribution and sale of homeopathic and other natural remedies, wellness products, detoxification products, nutraceuticals and nutritional supplements. and dietetics for mass distribution, specialty and health retailers and distributors.
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