Leafly Holdings, Inc. (NASDAQ:LFLY) Sees Significant Decline in Short Interest

Leafly Holdings, Inc. (NASDAQ:LFLY) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 18,400 shares, a decrease of 48.5% from the March 15th total of 35,700 shares. Based on an average daily volume of 45,200 shares, the short-interest ratio is presently 0.4 days. Currently, 1.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Benchmark reduced their price objective on shares of Leafly from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, April 1st.

Leafly Stock Performance

Shares of NASDAQ:LFLY opened at $2.99 on Thursday. The firm has a fifty day moving average price of $3.17 and a 200 day moving average price of $4.90. Leafly has a fifty-two week low of $2.06 and a fifty-two week high of $16.00. The firm has a market cap of $6.88 million, a price-to-earnings ratio of -0.61 and a beta of 1.06.

Hedge Funds Weigh In On Leafly

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cohanzick Management LLC bought a new position in shares of Leafly during the fourth quarter worth $139,000. AXS Investments LLC boosted its position in shares of Leafly by 63.5% during the fourth quarter. AXS Investments LLC now owns 118,337 shares of the company’s stock worth $569,000 after acquiring an additional 45,963 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Leafly during the third quarter worth $36,000. Bank of New York Mellon Corp boosted its position in shares of Leafly by 58.5% during the first quarter. Bank of New York Mellon Corp now owns 72,585 shares of the company’s stock worth $29,000 after acquiring an additional 26,785 shares during the last quarter. Finally, CI Private Wealth LLC bought a new position in shares of Leafly during the fourth quarter worth $95,000. 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 brands; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.