The Valens Company Inc. (NASDAQ:VLNS – Get Rating) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 414,300 shares, a growth of 14.4% from the September 30th total of 362,000 shares. Based on an average daily volume of 135,200 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.6% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on VLNS. Stifel Nicolaus lowered their price objective on Valens from C$3.50 to C$1.20 in a research note on Tuesday, August 23rd. Canaccord Genuity Group lowered their price objective on Valens from C$6.75 to C$4.00 in a research note on Friday, July 15th. Raymond James lowered their price objective on Valens from C$2.50 to C$1.00 in a research note on Wednesday, July 20th. Finally, Atb Cap Markets lowered Valens from an "outperform" rating to a "sector perform" rating in a research note on Thursday, July 14th.
Get Valens alerts:Valens Trading Up 3.5 %
Shares of Valens stock opened at $0.74 on Friday. Valens has a 52 week low of $0.58 and a 52 week high of $5.07. The business's fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.80. The company has a quick ratio of 1.49, a current ratio of 2.08 and a debt-to-equity ratio of 0.80.
Hedge Funds Weigh In On Valens
Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in shares of Valens in the 2nd quarter valued at $262,000. Jane Street Group LLC lifted its stake in Valens by 76.1% during the 1st quarter. Jane Street Group LLC now owns 55,585 shares of the company's stock worth $94,000 after acquiring an additional 24,012 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Valens by 144.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,019 shares of the company's stock worth $55,000 after acquiring an additional 18,932 shares in the last quarter. National Bank of Canada FI lifted its stake in Valens by 132.4% during the 3rd quarter. National Bank of Canada FI now owns 80,498 shares of the company's stock worth $54,000 after acquiring an additional 45,867 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in Valens during the 2nd quarter worth about $161,000. Institutional investors and hedge funds own 5.04% of the company's stock.About Valens
(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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