Ascend Wellness (OTCMKTS:AAWH) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Ascend Wellness (OTCMKTS:AAWH) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

Ascend Wellness Stock Performance

AAWH stock opened at $0.44 on Thursday. The firm has a 50 day simple moving average of $0.55 and a 200 day simple moving average of $0.65. The stock has a market cap of $90.77 million, a P/E ratio of -0.77 and a beta of 1.12. The company has a debt-to-equity ratio of 133.34, a quick ratio of 1.14 and a current ratio of 1.92. Ascend Wellness has a 52 week low of $0.26 and a 52 week high of $1.20.

Ascend Wellness (OTCMKTS:AAWH) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ascend Wellness had a negative net margin of 23.61% and a negative return on equity of 1,099.51%. The business had revenue of $120.55 million during the quarter, compared to analyst estimates of $120.00 million. Research analysts anticipate that Ascend Wellness will post -0.4 earnings per share for the current fiscal year.

About Ascend Wellness

Ascend Wellness Holdings, Inc engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods in the United States. The company offers flower, pre-rolls, concentrates, vapes, edibles, tinctures, and other cannabis-related products under the Common Goods, SimplyHerb, Ozone, Ozone Reserve, Royale, Tunnel Vision, Miss Grass, Lowell Smokes, Edie Parker, 1906, and AiroPro brands. It also owns, operates, and manages cannabis cultivation facilities and dispensaries. The company sells its products through company-owned retail stores and third-party licensed retail cannabis stores.