Farallon Capital Management LLC recently announced the acquisition of new stake in Clever Leaves Holdings Inc. (NASDAQ:CLVR). The institutional investor has increased its shareholding in the Healthcare company by 1.25% to 2.47 million shares with purchase of 30461.0 shares. This fresh investment now brings its stake to 5.63% valued currently at $0.76 million. In addition, Merlin Capital LLC raised its holdings by 0.31 million to 1.41 million shares. And AdvisorShares Investments LLC has lifted its position by 31.95% or 0.2 million shares – to 0.84 million shares.
With over 0.36 million Clever Leaves Holdings Inc. (CLVR) shares trading Friday and a closing price of $0.42 on the day, the dollar volume was approximately $0.15 million. The shares have shown a negative half year performance of -65.94% and its price on 01/13/23 gained nearly 8.75%. Currently, there are 42.22M common shares owned by the public and among those 37.45M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for CLVR have a consensus price objective of $2.28. The analysts have set the share’s price value over the next 12 months at a high of $3.75 and a low of $0.80. The average price target is 81.5% above its recent price level and an upside to the estimated low will see the stock gain 47.5% over that period. But an upside of 88.8% will see the stock hit the forecast high price target while median target price for the stock is $2.28.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 283,398 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 9,966 shares.
The top 3 mutual fund holders in Clever Leaves Holdings Inc. are AdvisorShares Trust – Pure Cannab, Vanguard Extended Market Index Fu, and Amplify Seymour Cannabis ETF. AdvisorShares Trust – Pure Cannab owns 1.01 million shares of the company’s stock, all valued at over $0.31 million. Amplify Seymour Cannabis ETF now owns shares totaling to 0.34% of the shares outstanding.
Shares of Clever Leaves Holdings Inc. (NASDAQ: CLVR) opened at $0.3775, down -$0.01 from a prior closing price of $0.39. However, the script later moved the day high at 0.4249, up 8.75%. The company’s stock has a 5-day price change of 16.36% and -13.43% over the past three months. CLVR shares are trading 36.45% year to date (YTD), with the 12-month market performance down to -84.13% lower. It has a 12-month low price of $0.29 and touched a high of $3.98 over the same period. CLVR has an average intraday trading volume of 334.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.85%, -2.84%, and -53.71% respectively.
Institutional ownership of Clever Leaves Holdings Inc. (NASDAQ: CLVR) shares accounts for 18.10% of the company’s 42.22M shares outstanding. Mutual fund holders own 16.85%, while other institutional holders and individual stakeholders account for 4.62% and 12.87% respectively.
It has a market capitalization of $16.99M. The earnings-per-share (ttm) stands at -$1.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.34% over the week and 10.04% over the month.
Analysts forecast that Clever Leaves Holdings Inc. (CLVR) will achieve an EPS of -$0.17 for the current quarter, -$0.16 for the next quarter and -$0.54 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 46.70%, and 59.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Clever Leaves Holdings Inc. (CLVR) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CLVR, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on July 27, 2021, with the firm’s price target at $13.
