Clever Leaves Holdings Inc. (NASDAQ:CLVR) Short Interest Update

Clever Leaves Holdings Inc. (NASDAQ:CLVRGet Rating) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,620,000 shares, an increase of 229.6% from the March 15th total of 795,000 shares. Based on an average daily volume of 7,810,000 shares, the days-to-cover ratio is presently 0.3 days.

A number of research firms have commented on CLVR. Canaccord Genuity Group reduced their target price on Clever Leaves from $10.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, February 10th. Canaccord Genuity Group cut their target price on shares of Clever Leaves from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 10th. Cowen lowered their price target on Clever Leaves from $6.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, March 28th. Finally, cut their price objective on Clever Leaves from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, December 23rd.

NASDAQ:CLVR opened at $1.64 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.22. Clever Leaves has a one year low of $0.91 and a one year high of $12.40. The business has a fifty day moving average price of $1.56 and a 200-day moving average price of $3.64.

Clever Leaves (NASDAQ:CLVRGet Rating) last released its earnings results on Thursday, March 24th. The company reported ($0.17) earnings per share for the quarter. Clever Leaves had a negative net margin of 297.42% and a negative return on equity of 43.15%. The firm had revenue of $4.19 million for the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its position in Clever Leaves by 60.5% in the first quarter. Morgan Stanley now owns 11,479 shares of the company’s stock worth $118,000 after purchasing an additional 4,325 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Clever Leaves by 180.4% in the 4th quarter. Bank of America Corp DE now owns 17,914 shares of the company’s stock worth $56,000 after buying an additional 11,526 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of Clever Leaves in the 3rd quarter worth about $228,000. Millennium Management LLC purchased a new stake in shares of Clever Leaves during the 4th quarter valued at about $243,000. Finally, D. E. Shaw & Co. Inc. grew its position in Clever Leaves by 567.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 109,324 shares of the company’s stock worth $339,000 after acquiring an additional 92,944 shares in the last quarter. 28.99% of the stock is currently owned by institutional investors.

Clever Leaves Company Profile (Get Rating)

Clever Leaves Holdings Inc operates as a cannabis company. The company operates through two segments, Cannabinoid and Non-Cannabinoid. The Cannabinoid segment engages in the cultivation, extraction, manufacturing, and commercialization of cannabinoid products internationally. The Non-Cannabinoid segment is involved in formulating, manufacturing, marketing, selling, distributing, and commercializing homeopathic and other natural remedies, wellness products, detoxification products, nutraceuticals, and nutritional and dietary supplements for mass retailers, specialty and health retailers, and distributors in the United States.

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