Leafly (NASDAQ:LFLY) Coverage Initiated by Analysts at Westpark Capital

Westpark Capital assumed coverage on shares of Leafly (NASDAQ:LFLY – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage issued a hold rating on the stock.

Leafly Trading Down 6.2 %

LFLY stock opened at $0.33 on Wednesday. The stock has a market capitalization of $13.55 million, a PE ratio of 0.97 and a beta of 1.28. Leafly has a 12-month low of $0.31 and a 12-month high of $10.92. The stock’s 50 day simple moving average is $0.37 and its 200 day simple moving average is $0.55.

Leafly (NASDAQ:LFLY – Get Rating) last announced its earnings results on Thursday, March 16th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business had revenue of $12.11 million for the quarter, compared to analyst estimates of $12.20 million. On average, research analysts predict that Leafly will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Leafly

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Leafly by 215.8% during the 3rd quarter. BlackRock Inc. now owns 1,327,123 shares of the company’s stock valued at $901,000 after buying an additional 906,927 shares during the last quarter. AXS Investments LLC purchased a new stake in shares of Leafly in the 1st quarter worth $473,000. ETF Managers Group LLC increased its stake in shares of Leafly by 46.4% in the 3rd quarter. ETF Managers Group LLC now owns 932,936 shares of the company’s stock worth $633,000 after purchasing an additional 295,775 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Leafly by 42.0% in the 3rd quarter. Vanguard Group Inc. now owns 511,635 shares of the company’s stock worth $347,000 after purchasing an additional 151,394 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Leafly by 600.0% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 350,000 shares of the company’s stock worth $228,000 after purchasing an additional 300,000 shares in the last quarter. 16.52% of the stock is currently owned by hedge funds and other institutional investors.

Leafly Company Profile

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