Ascend Wellness (OTCMKTS:AAWH) Rating Lowered to “Strong Sell” at Zacks Research

Ascend Wellness (OTCMKTS:AAWH) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research 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’s 50 day moving average is $0.55 and its 200 day moving average is $0.65. 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 company has a market cap of $90.77 million, a PE ratio of -0.77 and a beta of 1.12.

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