Zacks Research Downgrades Ascend Wellness (OTCMKTS:AAWH) to Strong Sell

Ascend Wellness (OTCMKTS:AAWH) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Ascend Wellness Price Performance

Shares of OTCMKTS AAWH opened at $0.44 on Thursday. Ascend Wellness has a twelve month low of $0.26 and a twelve month high of $1.20. The company has a current ratio of 1.92, a quick ratio of 1.14 and a debt-to-equity ratio of 133.34. The firm has a 50-day moving average of $0.55 and a two-hundred day moving average of $0.65. The company has a market capitalization of $90.77 million, a price-to-earnings ratio of -0.77 and a beta of 1.12.

Ascend Wellness (OTCMKTS:AAWH) last released its earnings results on Thursday, March 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ascend Wellness had a negative return on equity of 1,099.51% and a negative net margin of 23.61%.The business had revenue of $120.55 million during the quarter, compared to the consensus estimate of $120.00 million. As a group, analysts expect that Ascend Wellness will post -0.4 earnings per share for the current fiscal 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.