Curaleaf (OTCMKTS:CURLF) Stock Price Down 4.4% – Here’s What Happened

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s share price traded down 4.4% on Thursday . The stock traded as low as $9.53 and last traded at $9.56. 152,351 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 298,911 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Curaleaf from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Citigroup reiterated a “buy” rating on shares of Curaleaf in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Curaleaf Trading Down 4.1%

The company has a quick ratio of 0.73, a current ratio of 1.52 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $2.24 billion, a PE ratio of -73.76 and a beta of 1.57. The stock’s fifty day simple moving average is $8.59 and its 200 day simple moving average is $8.01.

Curaleaf (OTCMKTS:CURLF) last released its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.25. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. The company had revenue of $340.10 million during the quarter, compared to analyst estimates of $332.00 million. On average, sell-side analysts predict that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current 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.