Leafly (NASDAQ:LFLY) Now Covered by Analysts at Westpark Capital

Research analysts at Westpark Capital initiated coverage on shares of Leafly (NASDAQ:LFLY – Get Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set a “hold” rating on the stock.

Leafly Stock Up 3.0 %

Shares of NASDAQ:LFLY opened at $0.34 on Wednesday. The stock’s 50 day moving average is $0.37 and its 200-day moving average is $0.55. Leafly has a twelve month low of $0.31 and a twelve month high of $10.92. The firm has a market capitalization of $13.96 million, a price-to-earnings ratio of 1.00 and a beta of 1.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LFLY. Bank of America Corp DE purchased a new stake in shares of Leafly in the 1st quarter valued at about $31,000. JPMorgan Chase & Co. bought a new stake in shares of Leafly in the 1st quarter worth approximately $41,000. Northern Trust Corp lifted its stake in shares of Leafly by 12.9% in the 2nd quarter. Northern Trust Corp now owns 51,112 shares of the company’s stock valued at $230,000 after purchasing an additional 5,853 shares during the period. Advisor Group Holdings Inc. purchased a new position in shares of Leafly in the 1st quarter valued at approximately $93,000. Finally, State Street Corp raised its stake in Leafly by 9.0% during the third quarter. State Street Corp now owns 175,391 shares of the company’s stock valued at $119,000 after buying an additional 14,500 shares during the last quarter. Institutional investors own 16.52% of the company’s stock.

About Leafly

(Get Rating)

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.