The Valens Company Inc. (NASDAQ:VLNS – Get Rating) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 363,400 shares, a decrease of 19.7% from the June 15th total of 452,300 shares. Currently, 0.5% of the company's shares are sold short. Based on an average trading volume of 116,900 shares, the days-to-cover ratio is currently 3.1 days.
Analyst Upgrades and Downgrades
VLNS has been the subject of several research analyst reports. Canaccord Genuity Group dropped their price target on Valens from C$6.75 to C$4.00 in a research note on Friday, July 15th. Raymond James dropped their target price on Valens from C$2.50 to C$1.00 in a report on Wednesday. Stifel Nicolaus dropped their target price on Valens from C$4.50 to C$3.50 in a report on Friday, July 15th. Finally, Atb Cap Markets downgraded Valens from an "outperform" rating to a "sector perform" rating in a report on Thursday, July 14th.
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Institutional Investors Weigh In On Valens
A number of hedge funds have recently bought and sold shares of VLNS. National Bank of Canada FI acquired a new position in shares of Valens in the 4th quarter worth approximately $398,000. Commonwealth Equity Services LLC acquired a new position in Valens during the 4th quarter valued at approximately $266,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Valens during the 4th quarter valued at approximately $3,206,000. TD Asset Management Inc. acquired a new position in Valens during the 4th quarter valued at approximately $123,000. Finally, ETF Managers Group LLC acquired a new position in Valens during the 4th quarter valued at approximately $10,384,000. Institutional investors and hedge funds own 3.78% of the company's stock.
Valens Stock Performance
Shares of NASDAQ VLNS opened at $0.76 on Thursday. Valens has a fifty-two week low of $0.58 and a fifty-two week high of $8.16. The business has a 50 day moving average price of $0.72 and a two-hundred day moving average price of $1.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.18.
Valens Company Profile
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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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