Ascend Wellness (OTC:AAWH) Stock Price Up 5.3% – Here’s Why

Ascend Wellness Holdings, Inc. (OTC:AAWH) shares traded up 5.3% on Friday . The stock traded as high as $0.82 and last traded at $0.80. 57,558 shares changed hands during trading, a decline of 73% from the average session volume of 209,931 shares. The stock had previously closed at $0.76.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts upgraded Ascend Wellness to a “strong-buy” rating in a research report on Tuesday, July 16th.

Ascend Wellness Price Performance

The stock’s fifty day moving average price is $0.94 and its 200-day moving average price is $1.03. The company has a debt-to-equity ratio of 2.46, a current ratio of 2.29 and a quick ratio of 1.29. The firm has a market cap of $170.16 million, a price-to-earnings ratio of -3.48 and a beta of 1.70.

Ascend Wellness (OTC:AAWH) last issued its earnings results on Monday, August 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $141.54 million during the quarter, compared to analyst estimates of $145.48 million. Ascend Wellness had a negative return on equity of 50.77% and a negative net margin of 12.48%. Equities research analysts predict that Ascend Wellness Holdings, Inc. will post -0.32 EPS for the current fiscal 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.