Curaleaf (OTCMKTS:CURLF) Shares Gap Down – Here’s What Happened

Shares of Curaleaf Holdings, Inc. (OTCMKTS:CURLF) gapped down prior to trading on Wednesday. The stock had previously closed at $10.8060, but opened at $10.06. Curaleaf shares last traded at $9.98, with a volume of 62,126 shares.

Analyst Ratings Changes

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

Curaleaf Stock Down 9.2%

The firm has a market cap of $2.29 billion, a P/E ratio of -75.45 and a beta of 1.57. The stock’s 50 day simple moving average is $9.74 and its 200 day simple moving average is $8.46. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.73 and a current ratio of 1.52.

Curaleaf (OTCMKTS:CURLF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.25. The firm had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $332.00 million. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. Research analysts anticipate that Curaleaf Holdings, Inc. will post 0.01 EPS for the current year.

Curaleaf Company Profile

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, distributes and sells cannabis products in the United States and select international markets. Its operations include cannabis cultivation and processing facilities, retail dispensaries and wholesale distribution, serving both medical cannabis patients and adult-use consumers where permitted by law.

The company offers a broad portfolio of products, including cannabis flower, pre-rolls, vape products, concentrates, edibles, tinctures and other wellness-oriented products.