Ascend Wellness (OTCMKTS:AAWH) Trading Down 1.4% – Here’s What Happened

Ascend Wellness Holdings, Inc. (OTCMKTS:AAWH) dropped 1.4% on Friday . The stock traded as low as $0.47 and last traded at $0.4750. Approximately 25,948 shares traded hands during trading, a decline of 56% from the average daily volume of 58,466 shares. The stock had previously closed at $0.4818.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Ascend Wellness from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Ascend Wellness Price Performance

The business’s fifty day moving average price is $0.58 and its 200 day moving average price is $0.66. The company has a debt-to-equity ratio of 133.34, a current ratio of 1.92 and a quick ratio of 1.14. The stock has a market cap of $97.11 million, a P/E ratio of -0.82 and a beta of 1.12.

Ascend Wellness (OTCMKTS:AAWH) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $120.55 million for the quarter, compared to the consensus estimate of $120.00 million. Ascend Wellness had a negative net margin of 23.61% and a negative return on equity of 1,099.51%. Sell-side analysts forecast that Ascend Wellness Holdings, Inc. will post -0.4 EPS for the current fiscal year.

Ascend Wellness Company Profile

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.