BlackRock Fund Advisors recently announced the acquisition of new stake in Leafly Holdings Inc. (NASDAQ:LFLY). The institutional investor has increased its shareholding in the Healthcare company by 216.07% to 1.29 million shares with purchase of 0.88 million shares. This fresh investment now brings its stake to 3.22% valued currently at $0.84 million. In addition, ETF Managers Group LLC raised its holdings by 0.3 million to 0.93 million shares. And The Vanguard Group, Inc. has lifted its position by 34.35% or 0.12 million shares – to 0.46 million shares.
With over 0.32 million Leafly Holdings Inc. (LFLY) shares trading Friday and a closing price of $0.72 on the day, the dollar volume was approximately $0.23 million. The shares have shown a negative half year performance of -82.44% and its price on 01/13/23 gained nearly 10.59%. Currently, there are 35.58M common shares owned by the public and among those 28.42M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for LFLY have a consensus price objective of $3.75. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $2.50. The average price target is 80.8% above its recent price level and an upside to the estimated low will see the stock gain 71.2% over that period. But an upside of 85.6% will see the stock hit the forecast high price target while median target price for the stock is $3.75.
Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 378,937 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 2,061,896 shares.
The top 3 mutual fund holders in Leafly Holdings Inc. are Cannabis ETF, ETFMG Alternative Harvest ETF, and Vanguard Extended Market Index Fu. Cannabis ETF owns 1.15 million shares of the company’s stock, all valued at over $0.75 million. ETFMG Alternative Harvest ETF sold 656.0 shares to see its total holdings shrink to 0.47 million shares valued at over $0.3 million and representing 1.17% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.92% of the shares outstanding.
Shares of Leafly Holdings Inc. (NASDAQ: LFLY) opened at $0.66, up $0.01 from a prior closing price of $0.65. However, the script later moved the day high at 0.7188, up 10.59%. The company’s stock has a 5-day price change of 12.24% and 8.02% over the past three months. LFLY shares are trading 9.88% year to date (YTD), with the 12-month market performance down to -92.84% lower. It has a 12-month low price of $0.46 and touched a high of $11.58 over the same period. LFLY has an average intraday trading volume of 373.92K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.54%, 0.73%, and -81.81% respectively.
Institutional ownership of Leafly Holdings Inc. (NASDAQ: LFLY) shares accounts for 17.70% of the company’s 35.58M shares outstanding. Mutual fund holders own 5.77%, while other institutional holders and individual stakeholders account for 9.92% and 26.79% respectively.
It has a market capitalization of $25.91M. The stock’s trailing 12-month PE ratio is 7.24, while the earnings-per-share (ttm) stands at $0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.95% over the week and 15.36% over the month.
Analysts forecast that Leafly Holdings Inc. (LFLY) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.5 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.13. Earnings per share for the fiscal year are expected to decrease by -210.10%, and -322.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Leafly Holdings Inc. (LFLY) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LFLY, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on May 20, 2022, with the firm’s price target at $12.