Curaleaf (OTCMKTS:CURLF) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Curaleaf Holdings, Inc. (OTCMKTS:CURLF) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $8.28 and traded as high as $8.58. Curaleaf shares last traded at $8.49, with a volume of 92,077 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CURLF. UBS Group set a $6.00 price objective on shares of Curaleaf in a research report on Monday, October 5th. Zacks Research cut shares of Curaleaf from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. Finally, Citigroup reiterated a “buy” rating on shares of Curaleaf in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Curaleaf has a consensus rating of “Buy” and an average price target of $6.00.

Curaleaf Price Performance

The company’s 50-day simple moving average is $9.62 and its 200-day simple moving average is $8.29. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.52 and a quick ratio of 0.73. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -66.05 and a beta of 1.55.

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, topping analysts’ consensus estimates of ($0.20) by $0.25. The company had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $332.00 million. Curaleaf had a negative return on equity of 0.88% and a negative net margin of 2.62%. Research analysts forecast that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current fiscal year.

About Curaleaf

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, distributes and sells cannabis products for medical and adult-use markets. Its portfolio includes cannabis flower, pre-rolls, vaporizers, concentrates, edibles, tinctures, capsules, topicals and other wellness products, offered under brands such as Curaleaf, Select and Grassroots.

The company serves customers through a network of retail dispensaries and wholesale channels in regulated U.S. cannabis markets. Its operations include cultivation and manufacturing facilities as well as dispensaries, with products distributed in multiple states where medical or adult-use cannabis is permitted.