cbdMD (NYSEAMERICAN:YCBD) Cut to “Hold” at Maxim Group

Maxim Group downgraded shares of cbdMD (NYSEAMERICAN:YCBD) from a buy rating to a hold rating in a report issued on Monday morning, Marketbeat.com reports.

cbdMD Stock Performance

Shares of NYSEAMERICAN YCBD opened at $0.49 on Monday. The company’s 50 day moving average price is $0.62 and its 200-day moving average price is $0.73. cbdMD has a 52-week low of $0.47 and a 52-week high of $2.56.

cbdMD (NYSEAMERICAN:YCBD) last announced its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The firm had revenue of $5.55 million for the quarter, compared to the consensus estimate of $5.69 million. cbdMD had a negative return on equity of 34.26% and a negative net margin of 13.80%.

Hedge Funds Weigh In On cbdMD

A hedge fund recently bought a new position in cbdMD stock. Jane Street Group LLC purchased a new position in shares of cbdMD, Inc. (NYSEAMERICAN:YCBD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 51,141 shares of the company’s stock, valued at approximately $69,000. Jane Street Group LLC owned approximately 0.49% of cbdMD as of its most recent filing with the SEC. Institutional investors own 7.18% of the company’s stock.

cbdMD Company Profile

cbdMD, Inc (NYSEAMERICAN: YCBD) is a Charlotte, North Carolina–based producer and distributor of hemp-derived cannabidiol (CBD) products. Since its founding in 2018, the company has focused on developing a diverse portfolio of wellness offerings designed for human and pet use. Its product range includes tinctures, capsules, gummies, topicals, and pet-specific formulations, each developed to comply with U.S. Food and Drug Administration (FDA) guidelines for hemp-derived substances.

The company operates a vertically integrated business model, sourcing U.S.-grown hemp and overseeing manufacturing processes in cGMP-certified facilities.