The Valens Company Inc. (NASDAQ:VLNS – Get Rating) was the recipient of 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 daily volume of 116,900 shares, the days-to-cover ratio is presently 3.1 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in Valens in the fourth quarter valued at about $398,000. TD Asset Management Inc. purchased a new position in Valens in the fourth quarter valued at about $123,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Valens in the fourth quarter valued at about $3,206,000. Commonwealth Equity Services LLC purchased a new position in Valens in the fourth quarter valued at about $266,000. Finally, Jane Street Group LLC boosted its holdings in Valens by 76.1% in the first quarter. Jane Street Group LLC now owns 55,585 shares of the company's stock valued at $94,000 after purchasing an additional 24,012 shares during the last quarter. Hedge funds and other institutional investors own 3.78% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of research firms have issued reports on VLNS. Canaccord Genuity Group lowered their price target on Valens from C$6.75 to C$4.00 in a research report on Friday, July 15th. Stifel Nicolaus lowered their price target on Valens from C$4.50 to C$3.50 in a research report on Friday, July 15th. Atb Cap Markets downgraded Valens from an "outperform" rating to a "sector perform" rating in a research report on Thursday, July 14th. Finally, Raymond James lowered their price target on Valens from C$2.50 to C$1.00 in a research report on Wednesday.
Valens Trading Down 0.9 %
Shares of NASDAQ VLNS opened at $0.75 on Friday. Valens has a 1-year low of $0.58 and a 1-year high of $8.16. The business has a 50-day moving average of $0.72 and a 200-day moving average of $1.43. The company has a quick ratio of 1.56, a current ratio of 2.18 and a debt-to-equity ratio of 0.40.
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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