Ascend Wellness (OTCMKTS:AAWH) Shares Down 6.9% – Here’s Why

Ascend Wellness Holdings, Inc. (OTCMKTS:AAWH)’s share price traded down 6.9% during trading on Monday . The company traded as low as $0.41 and last traded at $0.4190. Approximately 11,211 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 33,253 shares. The stock had previously closed at $0.45.

Analyst Ratings Changes

Separately, Zacks Research upgraded Ascend Wellness from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Ascend Wellness Price Performance

The firm has a market cap of $85.04 million, a price-to-earnings ratio of -0.65 and a beta of 1.20. The firm’s fifty day moving average is $0.50 and its 200-day moving average is $0.54.

Ascend Wellness (OTCMKTS:AAWH) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Ascend Wellness had a negative return on equity of 1,099.51% and a negative net margin of 26.24%. As a group, equities research analysts anticipate that Ascend Wellness Holdings, Inc. will post -0.32 EPS for the current 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.