Charlotte’s Web (TSE:CWEB) Stock Falls 16.4% – Here’s Why

Charlotte’s Web Holdings, Inc. (TSE:CWEB) shares dropped 16.4% during mid-day trading on Monday. The stock traded as low as C$0.26 and last traded at C$0.26. Approximately 182,164 shares changed hands during trading, an increase of 45% from the average session volume of 125,710 shares. The stock had previously closed at C$0.30.

Charlotte’s Web Stock Down 18.0%

The firm has a fifty day simple moving average of C$0.38 and a 200-day simple moving average of C$0.59. The firm has a market cap of C$67.82 million, a price-to-earnings ratio of -1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 23.29, a quick ratio of 1.41 and a current ratio of 4.19.

Charlotte’s Web (TSE:CWEB) last announced its earnings results on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$15.42 million for the quarter. Charlotte’s Web had a negative return on equity of 283.89% and a negative net margin of 73.65%. As a group, sell-side analysts expect that Charlotte’s Web Holdings, Inc. will post 0.00 EPS for the current year.

Insiders Place Their Bets

In related news, insider Raymond Kunkel bought 137,935 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were purchased at an average cost of C$0.28 per share, with a total value of C$38,621.80. Following the acquisition, the insider owned 914,929 shares of the company’s stock, valued at C$256,180.12. This represents a 17.75% increase in their ownership of the stock. 11.25% of the stock is owned by insiders.

About Charlotte’s Web

Charlotte’s Web Holdings, Inc, a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and a market leader in hemp extract wellness that includes Charlotte’s Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD and cannabinoid isolates. The Company’s hemp extracts have naturally occurring botanical compounds including cannabidiol (‘CBD’), CBN, CBC, CBG, THC, terpenes, flavonoids, and other beneficial compounds. Charlotte’s Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, hemp-derived THC microdose gummies, functional mushroom gummies, CBD capsules, CBD topical creams, and lotions, as well as CBD pet products for dogs.