Clever Leaves (NASDAQ:CLVR – Get Rating) had its price target decreased by stock analysts at Canaccord Genuity Group from $7.00 to $4.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 280.95% from the company’s current price.
Several other brokerages also recently commented on CLVR. Canaccord Genuity Group lowered their price objective 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 decreased their price target 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. The company has a market cap of $31.63 million, a PE ratio of -0.59 and a beta of 1.13. Clever Leaves has a 52 week low of $0.91 and a 52 week high of $12.40. The business has a 50 day moving average price of $1.56 and a 200-day moving average price of $2.88. The company has a quick ratio of 1.65, a current ratio of 2.22 and a debt-to-equity ratio of 0.10.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vident Investment Advisory LLC bought a new position in Clever Leaves during the third quarter valued at $228,000. Renaissance Technologies LLC bought a new position in Clever Leaves during the fourth quarter valued at $764,000. D. E. Shaw & Co. Inc. grew its holdings in 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 purchasing an additional 92,944 shares during the period. Millennium Management LLC bought a new position in Clever Leaves during the fourth quarter valued at $243,000. Finally, Morgan Stanley grew its holdings in Clever Leaves by 60.5% during the first quarter. Morgan Stanley now owns 11,479 shares of the company’s stock valued at $118,000 after purchasing an additional 4,325 shares during the period. 31.69% of the stock is 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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