Clever Leaves Holdings Inc. (NASDAQ:CLVR – Get Rating) benefited from a sharp drop in short-term interest rates in April. As of April 15, there was short interest totaling 1,390,000 shares, down 46.9% from the March 31 total of 2,620,000 shares. Based on an average trading volume of 8,010,000 shares, the short-term interest rate ratio is currently 0.2 days.
Shares of CLVR opened at $1.37 on Friday. The company has a debt ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.22. The company’s 50-day moving average is $1.53 and its 200-day moving average is $3.20. Clever Leaves has a 12 month minimum of $0.91 and a 12 month maximum of $12.40.
Clever Leaves (NASDAQ:CLVR – Get Rating) last announced its quarterly results on Thursday, March 24. The company reported EPS ($0.17) for the quarter. Clever Leaves had a negative net margin of 297.42% and a negative return on equity of 43.15%. The company had revenue of $4.19 million for the quarter.
CLVR has been the subject of several research reports. Cowen cut his price target on Clever Leaves shares from $6.00 to $4.00 and set a “market performance” rating for the company in a Monday, March 28 research report. Canaccord Genuity Group lowered its price target on Clever Leaves shares from $10.00 to $7.00 and set a “buy” rating on the stock in a Thursday, Feb. 10 research note. Finally, Canaccord Genuity Group lowered its price target on Clever Leaves shares from $10.00 to $7.00 and set a “buy” rating on the stock in a Thursday 10 research note. february.
Major investors have recently changed their positions in the company. Bank of America Corp DE increased its stake in Clever Leaves by 180.4% in the fourth quarter. Bank of America Corp DE now owns 17,914 shares of the company valued at $56,000 after purchasing an additional 11,526 shares during the period. Morgan Stanley increased its stake in Clever Leaves by 60.5% in the first quarter. Morgan Stanley now owns 11,479 shares of the company valued at $118,000 after purchasing an additional 4,325 shares during the period. Vident Investment Advisory LLC bought a new position in Clever Leaves in Q3 worth $228,000. Millennium Management LLC bought a new position in Clever Leaves in Q4 worth $243,000. Finally, DE Shaw & Co. Inc. increased its stake in Clever Leaves by 567.4% in the 4th quarter. DE Shaw & Co. Inc. now owns 109,324 shares of the company valued at $339,000 after purchasing an additional 92,944 shares during the period. 28.99% of the shares are held by hedge funds and other institutional investors.
Company Profile Clever Leaves (Get a rating)
Clever Leaves Holdings Inc operates as a cannabis company. The Company operates through two segments, cannabinoids and non-cannabinoids. The Cannabinoids segment engages in the cultivation, extraction, manufacture and marketing of cannabinoid products internationally. The Non-Cannabinoids segment is involved in the formulation, manufacture, marketing, sale, distribution and marketing of homeopathic and other natural remedies, wellness products, detoxification products, nutraceuticals and nutritional and dietary supplements for mass retailers, specialty and health retailers and distributors. in the USA.
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