Brokerages Expect The Valens Company Inc. (NASDAQ:VLNS) Will Post Quarterly Sales of $19.56 Million

Wall Street analysts forecast that The Valens Company Inc. (NASDAQ:VLNSGet Rating) will post $19.56 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Valens’ earnings. The lowest sales estimate is $17.29 million and the highest is $21.03 million. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Valens will report full year sales of $84.60 million for the current year, with estimates ranging from $71.53 million to $95.22 million. For the next fiscal year, analysts forecast that the business will post sales of $155.09 million, with estimates ranging from $110.04 million to $185.65 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Valens.

Valens (NASDAQ:VLNSGet Rating) last issued its quarterly earnings results on Wednesday, April 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.13). The business had revenue of $18.23 million during the quarter, compared to analyst estimates of $18.34 million.

A number of research analysts recently issued reports on the stock. Raymond James downgraded shares of Valens from a “market perform” rating to an “underperform” rating in a research report on Thursday, March 3rd. Zacks Investment Research upgraded shares of Valens from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Canaccord Genuity Group cut their price objective on shares of Valens from C$9.00 to C$7.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Valens from C$5.25 to C$4.50 in a report on Monday, April 18th.

A number of large investors have recently bought and sold shares of the business. Murchinson Ltd. acquired a new position in Valens in the 1st quarter valued at about $1,272,000. Commonwealth Equity Services LLC lifted its holdings in shares of Valens by 26.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 137,852 shares of the company’s stock worth $237,000 after acquiring an additional 29,153 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Valens by 205.7% in the 1st quarter. CoreCap Advisors LLC now owns 41,269 shares of the company’s stock worth $71,000 after acquiring an additional 27,770 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Valens in the 4th quarter worth approximately $32,000. Finally, Prestige Wealth Management Group LLC acquired a new position in shares of Valens in the 4th quarter worth approximately $69,000. Institutional investors own 3.78% of the company’s stock.

VLNS stock traded down $0.02 during trading on Monday, reaching $0.67. The company’s stock had a trading volume of 194,514 shares, compared to its average volume of 141,915. The company has a fifty day moving average price of $1.53. Valens has a 1 year low of $0.63 and a 1 year high of $9.45.

Valens Company Profile (Get Rating)

The Valens Company Inc develops, manufactures, and sells cannabinoid-based products in Canada and internationally. It produces dried cannabis and hemp biomass products. The company also provides a range of products, including tinctures, two-piece caps, soft gels, oral sprays, and vape pens, as well as beverages, concentrates, topicals, edibles, natural health, and other products.

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