Leafly (NASDAQ:LFLY) Stock Price Down 1.2%

Leafly Holdings, Inc. (NASDAQ:LFLY)’s stock price was down 1.2% during trading on Monday . The stock traded as low as $2.31 and last traded at $2.37. Approximately 28,287 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 433,937 shares. The stock had previously closed at $2.40.

Wall Street Analyst Weigh In

Separately, Benchmark reduced their price objective on Leafly from $11.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, April 1st.

Leafly Price Performance

The business has a fifty day moving average price of $2.16 and a 200 day moving average price of $3.27. The company has a market capitalization of $5.84 million, a price-to-earnings ratio of -0.74 and a beta of 0.88.

Leafly (NASDAQ:LFLY) last announced its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter. The company had revenue of $9.05 million for the quarter. During the same period last year, the firm posted ($2.80) earnings per share.

Hedge Funds Weigh In On Leafly

An institutional investor recently raised its position in Leafly stock. AXS Investments LLC increased its position in Leafly Holdings, Inc. (NASDAQ:LFLY) by 63.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,337 shares of the company’s stock after buying an additional 45,963 shares during the quarter. AXS Investments LLC owned about 5.43% of Leafly worth $569,000 at the end of the most recent reporting period. 15.55% of the stock is owned by institutional investors.

About Leafly

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