Leafly Holdings, Inc. (NASDAQ:LFLY) Short Interest Down 54.9% in December

Leafly Holdings, Inc. (NASDAQ:LFLY) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 12,100 shares, a decrease of 54.9% from the December 15th total of 26,800 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Leafly

An institutional investor recently bought a new position in Leafly stock. Renaissance Technologies LLC acquired a new position in Leafly Holdings, Inc. (NASDAQ:LFLY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,301 shares of the company’s stock, valued at approximately $33,000. Renaissance Technologies LLC owned about 0.66% of Leafly at the end of the most recent reporting period. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Westpark Capital reiterated a “buy” rating and set a $9.18 price objective on shares of Leafly in a research report on Friday, November 8th.

Leafly Stock Up 0.7 %

LFLY stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.41. The company had a trading volume of 38,984 shares, compared to its average volume of 18,598. The company has a market capitalization of $4.33 million, a price-to-earnings ratio of -0.61 and a beta of 0.87. The company has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.84. Leafly has a 12-month low of $1.10 and a 12-month high of $4.95.

About Leafly

Leafly Holdings, Inc owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. The company offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications.