Ascend Wellness (OTC:AAWH) Trading 13% Higher – Here’s Why

Shares of Ascend Wellness Holdings, Inc. (OTC:AAWH) were up 13% on Thursday . The stock traded as high as $0.5902 and last traded at $0.59. Approximately 177,952 shares changed hands during mid-day trading, an increase of 124% from the average daily volume of 79,450 shares. The stock had previously closed at $0.5220.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered Ascend Wellness from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Ascend Wellness Trading Up 13.0%

The business’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $0.68. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.47 and a quick ratio of 0.80. The stock has a market capitalization of $120.62 million, a P/E ratio of -1.44 and a beta of 1.11.

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.