Mirae Asset Global Investments Co. Ltd. boosted its holdings in The Valens Company Inc. (NASDAQ:VLNS – Get Rating) by 44.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,753,150 shares of the company's stock after purchasing an additional 537,470 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.10% of Valens worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Valens by 144.7% in the 1st 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 period. Jane Street Group LLC grew its position in shares of Valens by 76.1% in the 1st quarter. Jane Street Group LLC now owns 55,585 shares of the company's stock valued at $94,000 after acquiring an additional 24,012 shares during the period. CoreCap Advisors LLC grew its position in shares of Valens by 205.7% in the 1st 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 during the period. Commonwealth Equity Services LLC grew its position in shares of Valens by 26.8% in the 1st 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 during the period. Finally, Empery Asset Management LP bought a new position in shares of Valens in the 1st quarter valued at about $688,000. Institutional investors own 5.04% of the company's stock.
Get Valens alerts:Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Valens from C$3.50 to C$1.20 in a research note on Tuesday, August 23rd. Atb Cap Markets downgraded Valens from an "outperform" rating to a "sector perform" rating in a research report on Thursday, July 14th. Canaccord Genuity Group decreased their target price on Valens from C$6.75 to C$4.00 in a research report on Friday, July 15th. Finally, Raymond James decreased their target price on Valens from C$2.50 to C$1.00 in a research report on Wednesday, July 20th.
Valens Trading Up 1.0 %
Shares of NASDAQ:VLNS opened at $0.66 on Friday. The company has a market capitalization of $104.95 million and a P/E ratio of -0.26. The Valens Company Inc. has a 1 year low of $0.58 and a 1 year high of $5.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.08 and a quick ratio of 1.49. The business's 50 day simple moving average is $0.81 and its 200 day simple moving average is $0.84.Valens Company Profile
(Get Rating)
The Valens Company Inc, through its subsidiaries, develops, manufactures, and sells cannabinoid-based products in Canada, the United States, and internationally. The company provides packaged dried flower/pre-rolls under the Verse, Versus, Contraband, and Citizen Stash brands; vapourizers and hydrocarbon extracts under the Verse and Versus brands; edible cannabis products under the Verse, Vacay, and LYF brands; and topical cannabis under the Nuance brand.
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