Empery Asset Management LP acquired a new stake in The Valens Company Inc. (NASDAQ:VLNS – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 400,000 shares of the company's stock, valued at approximately $688,000. Valens accounts for approximately 3.2% of Empery Asset Management LP's investment portfolio, making the stock its 8th biggest holding. Empery Asset Management LP owned about 0.25% of Valens at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC purchased a new position in Valens in the fourth quarter valued at about $69,000. Goldman Sachs Group Inc. grew 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 in the last quarter. CoreCap Advisors LLC grew its stake in shares of Valens by 205.7% during the first quarter. CoreCap Advisors LLC now owns 41,269 shares of the company's stock valued at $71,000 after acquiring an additional 27,770 shares in the last quarter. TD Asset Management Inc. acquired a new stake in shares of Valens during the fourth quarter valued at about $123,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Valens by 26.8% during the first quarter. Commonwealth Equity Services LLC now owns 137,852 shares of the company's stock valued at $237,000 after acquiring an additional 29,153 shares in the last quarter. 5.04% of the stock is owned by hedge funds and other institutional investors.
Get Valens alerts:Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Valens from C$6.75 to C$4.00 in a research note on Friday, July 15th. Atb Cap Markets downgraded Valens from an "outperform" rating to a "sector perform" rating in a research note on Thursday, July 14th. Stifel Nicolaus decreased their price target on Valens from C$3.50 to C$1.20 in a research note on Tuesday, August 23rd. Finally, Raymond James decreased their price target on Valens from C$2.50 to C$1.00 in a research note on Wednesday, July 20th.
Valens Price Performance
NASDAQ:VLNS opened at $0.86 on Tuesday. The Valens Company Inc. has a one year low of $0.58 and a one year high of $6.51. The stock has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $1.09. The company has a current ratio of 2.18, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40.Valens 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.
Further Reading
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