Ayr Wellness (OTCMKTS:AYRWF) Upgraded by Zacks Investment Research to Hold

Ayr Wellness (OTCMKTS:AYRWFGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other research firms also recently weighed in on AYRWF. Echelon Wealth Partners reaffirmed a “buy” rating and set a $45.00 price target on shares of Ayr Wellness in a research note on Friday, May 27th. Canaccord Genuity Group dropped their price target on Ayr Wellness from C$57.00 to C$40.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. Cantor Fitzgerald decreased their price objective on Ayr Wellness from $17.50 to $13.30 and set a “neutral” rating for the company in a report on Friday, March 18th. Finally, Needham & Company LLC decreased their price objective on Ayr Wellness from $28.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ayr Wellness presently has an average rating of “Buy” and an average target price of $43.55.

Shares of OTCMKTS AYRWF traded up $0.02 during trading on Thursday, reaching $6.07. The company had a trading volume of 169,357 shares, compared to its average volume of 210,249. The company’s fifty day moving average price is $7.93 and its 200-day moving average price is $12.09. Ayr Wellness has a 12 month low of $4.61 and a 12 month high of $31.60. The company has a current ratio of 1.75, a quick ratio of 1.13 and a debt-to-equity ratio of 0.37.

Ayr Wellness (OTCMKTS:AYRWFGet Rating) last released its quarterly earnings results on Thursday, May 26th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. Ayr Wellness had a negative return on equity of 6.45% and a negative net margin of 1.93%. The firm had revenue of $111.23 million for the quarter, compared to analyst estimates of $109.90 million. On average, analysts expect that Ayr Wellness will post -1.15 EPS for the current year.

About Ayr Wellness (Get Rating)

Ayr Wellness Inc, a vertically-integrated cannabis multi-state operator, cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. The company's cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies.

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