Curaleaf (OTCMKTS:CURLF) Shares Gap Up – Here’s Why

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.2140, but opened at $2.29. Curaleaf shares last traded at $2.2525, with a volume of 58,693 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of Curaleaf from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Alliance Global Partners reissued a “buy” rating on shares of Curaleaf in a research note on Monday, December 22nd. Finally, ATB Cormark Capital Markets raised shares of Curaleaf to an “outperform” rating in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Curaleaf Price Performance

The stock has a market capitalization of $1.59 billion, a PE ratio of -7.82 and a beta of 0.71. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.52 and a quick ratio of 0.71. The firm’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $2.68.

Curaleaf (OTCMKTS:CURLF) last released its earnings results on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Curaleaf had a negative net margin of 18.08% and a negative return on equity of 23.17%. The company had revenue of $333.07 million for the quarter, compared to analyst estimates of $328.70 million. As a group, equities analysts forecast that Curaleaf Holdings, Inc. will post -0.25 EPS for the current fiscal year.

About Curaleaf

Curaleaf Holdings, Inc is a leading American cannabis company engaged in the cultivation, processing and distribution of both medical and adult-use cannabis products. Headquartered in Wakefield, Massachusetts, Curaleaf operates cultivation facilities, processing centers and retail dispensaries across multiple U.S. jurisdictions. The company’s vertically integrated model allows it to manage the entirety of its supply chain, from seed to sale, ensuring consistent quality and compliance with stringent regulatory requirements.

Curaleaf’s product portfolio spans a wide range of formats, including premium flower, vaporizer cartridges, edibles, tinctures, topicals and concentrates.