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

Shares of Ascend Wellness Holdings, Inc. (OTCMKTS:AAWH) fell 6.9% during trading on Monday . The stock traded as low as $0.41 and last traded at $0.4190. 11,211 shares changed hands during 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 shares of Ascend Wellness from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Ascend Wellness Price Performance

The stock 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 price is $0.50 and its two-hundred day moving average price is $0.54.

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