The Valens Company Inc. (NASDAQ:VLNS – Get Rating) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 452,300 shares, an increase of 33.0% from the May 31st total of 340,000 shares. Based on an average daily volume of 156,600 shares, the short-interest ratio is presently 2.9 days. Currently, 0.7% of the shares of the stock are sold short.

Separately, Stifel Nicolaus dropped their price objective on shares of Valens from C$5.25 to C$4.50 in a research note on Monday, April 18th.

Shares of NASDAQ:VLNS opened at $0.72 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $0.77. Valens has a one year low of $0.58 and a one year high of $8.16.

Several hedge funds have recently added to or reduced their stakes in VLNS. Goldman Sachs Group Inc. raised its stake in shares of Valens by 144.7% during the first quarter. Goldman Sachs Group Inc. now owns 32,019 shares of the company's stock valued at $55,000 after acquiring an additional 18,932 shares during the last quarter. Prestige Wealth Management Group LLC acquired a new stake in shares of Valens during the fourth quarter worth $69,000. CoreCap Advisors LLC increased its position in shares of Valens by 205.7% during the first quarter. CoreCap Advisors LLC now owns 41,269 shares of the company's stock worth $71,000 after buying an additional 27,770 shares during the period. Jane Street Group LLC increased its position in shares of Valens by 76.1% during the first quarter. Jane Street Group LLC now owns 55,585 shares of the company's stock worth $94,000 after buying an additional 24,012 shares during the period. Finally, TD Asset Management Inc. acquired a new stake in shares of Valens during the fourth quarter worth $123,000. 3.78% of the stock is owned by hedge funds and other institutional investors.

Valens Company Profile (Get Rating)

The Valens Company Inc develops, manufactures, and sells cannabinoid-based products in Canada and internationally. It produces dried cannabis and hemp biomass products. The company also provides a range of products, including tinctures, two-piece caps, soft gels, oral sprays, and vape pens, as well as beverages, concentrates, topicals, edibles, natural health, and other products.

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