Canaccord Genuity Group Lowers Clever Leaves (NASDAQ:CLVR) Price Target to $4.00

Clever Leaves (NASDAQ:CLVR – Get Rating) had its price target decreased by Canaccord Genuity Group from $7.00 to $4.00 in a research report report published on Friday, The Fly reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other brokerages have also issued reports on CLVR. Canaccord Genuity Group cut their price target on Clever Leaves from $10.00 to $7.00 and set a buy rating for the company in a research note on Thursday, February 10th. Cowen cut their price objective on Clever Leaves from $6.00 to $4.00 and set a market perform rating for the company in a research report on Monday, March 28th.

Shares of Clever Leaves stock opened at $1.05 on Friday. Clever Leaves has a one year low of $0.91 and a one year high of $12.40. The stock’s fifty day moving average is $1.56 and its 200 day moving average is $2.88. The stock has a market cap of $31.63 million, a P/E ratio of -0.59 and a beta of 1.13. 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 (NASDAQ:CLVR – Get Rating) last issued its quarterly earnings results on Thursday, March 24th. The company reported ($0.17) earnings per share (EPS) for the quarter. Clever Leaves had a negative return on equity of 43.15% and a negative net margin of 297.42%. The business had revenue of $4.19 million during the quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. bought a new stake in Clever Leaves in the first quarter worth about $58,000. AdvisorShares Investments LLC bought a new stake in shares of Clever Leaves during the first quarter valued at approximately $996,000. Merlin Capital LLC bought a new stake in shares of Clever Leaves during the fourth quarter valued at approximately $1,197,000. Millennium Management LLC bought a new stake in shares of Clever Leaves during the fourth quarter valued at approximately $243,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Clever Leaves by 567.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 109,324 shares of the company’s stock valued at $339,000 after acquiring an additional 92,944 shares in the last quarter. 31.69% of the stock is owned by institutional investors and hedge funds.

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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