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.
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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.
Valens (NASDAQ:VLNS – Get Rating) last released its quarterly earnings results on Wednesday, April 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.13). The firm had revenue of $18.23 million for the quarter, compared to analysts' expectations of $18.34 million. On average, research analysts forecast that Valens will post -0.62 earnings per share for the current fiscal year.
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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