Clever Leaves Holdings Inc. [NASDAQ: CLVR] gained 16.06% on the last trading session, reaching $10.48 price per share at the time. The company report on January 12, 2021 that Clever Leaves Signs Multi-Year Partnership with Brazilian Cannabis Company Entourage Phytolab.
Clever Leaves to Receive US$11.4 Million Over Three-year Deal.
Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, announced that it has entered into a three-year “take or pay” partnership agreement with Entourage Phytolab, a rapidly growing pharmaceutical cannabis research and development company in Brazil. Clever Leaves will be paid approximately US $11.4M over the term of the agreement to supply certain finished products for distribution through the pharmaceutical and the compassionate care markets in Brazil. In a second agreement, Clever Leaves will also provide active pharmaceutical ingredients (APIs) for proprietary formulations of Entourage. Supply of the finished products will commence in January 2021, with the APIs also targeting Q1 of 2021.
Clever Leaves Holdings Inc. represents 25.33 million in outstanding shares, while the company has a total market value of $265.46 million with the latest information. CLVR stock price has been found in the range of $8.96 to $10.97.
If compared to the average trading volume of 1.04M shares, CLVR reached a trading volume of 3085164 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Clever Leaves Holdings Inc. [CLVR]:
The Average True Range (ATR) for Clever Leaves Holdings Inc. is set at 1.02, with the Price to Sales ratio for CLVR stock in the period of the last 12 months amounting to 23.30.
Trading performance analysis for CLVR stock
Clever Leaves Holdings Inc. [CLVR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.81.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLVR stock in for the last two-week period is set at 48.82, with the RSI for the last a single of trading hit 58.67, and the three-weeks RSI is set at 44.02 for Clever Leaves Holdings Inc. [CLVR], while it was recorded at 9.26 for the last single week of trading.
Clever Leaves Holdings Inc. [CLVR]: A deeper dive into fundamental analysis
Clever Leaves Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
An analysis of insider ownership at Clever Leaves Holdings Inc. [CLVR]
There are presently around $190 million, or 10.20% of CLVR stock, in the hands of institutional investors. The top three institutional holders of CLVR stocks are: GLAZER CAPITAL, LLC with ownership of 1,723,488, which is approximately 17.301% of the company’s market cap and around 17.00% of the total institutional ownership; FALCON EDGE CAPITAL, LP, holding 1,613,700 shares of the stock with an approximate value of $16.91 million in CLVR stocks shares; and CNH PARTNERS LLC, currently with $15.09 million in CLVR stock with ownership of nearly 0% of the company’s market capitalization.
22 institutional holders increased their position in Clever Leaves Holdings Inc. [NASDAQ:CLVR] by around 3,710,616 shares. Additionally, 27 investors decreased positions by around 4,940,441 shares, while 10 investors held positions by with 9,471,323 shares. The mentioned changes placed institutional holdings at 18,122,380 shares, according to the latest SEC report filing. CLVR stock had 13 new institutional investments in for a total of 1,239,352 shares, while 12 institutional investors sold positions of 1,291,397 shares during the same period.