Curaleaf (OTCMKTS:CURLF) Trading Up 12.2% – Here’s Why

Curaleaf Holdings, Inc. (OTCMKTS:CURLF) shares shot up 12.2% during mid-day trading on Thursday . The stock traded as high as $3.56 and last traded at $3.5450. 1,475,284 shares traded hands during trading, an increase of 36% from the average session volume of 1,084,176 shares. The stock had previously closed at $3.16.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Curaleaf from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Curaleaf Stock Performance

The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -27.18 and a beta of 1.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.56 and a quick ratio of 0.74. The firm has a 50 day moving average price of $2.92 and a 200-day moving average price of $2.67.

Curaleaf’s stock is scheduled to reverse split on Friday, June 5th. The 1-3 reverse split was announced on Tuesday, May 26th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 4th.

Curaleaf (OTCMKTS:CURLF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.17. The business had revenue of $324.23 million for the quarter, compared to analysts’ expectations of $316.62 million. Curaleaf had a negative return on equity of 8.11% and a negative net margin of 7.76%. As a group, sell-side analysts expect that Curaleaf Holdings, Inc. will post -0.1 earnings per share for the current fiscal year.

Curaleaf Company Profile

Curaleaf Holdings, Inc is a leading American cannabis company engaged in the cultivation, processing and distribution of both medical and adult-use cannabis products. Headquartered in Wakefield, Massachusetts, Curaleaf operates cultivation facilities, processing centers and retail dispensaries across multiple U.S. jurisdictions. The company’s vertically integrated model allows it to manage the entirety of its supply chain, from seed to sale, ensuring consistent quality and compliance with stringent regulatory requirements.

Curaleaf’s product portfolio spans a wide range of formats, including premium flower, vaporizer cartridges, edibles, tinctures, topicals and concentrates.