Ascend Wellness (OTC:AAWH) Trading Down 16.7% – Here’s What Happened

Shares of Ascend Wellness Holdings, Inc. (OTC:AAWH) fell 16.7% on Monday . The company traded as low as $0.48 and last traded at $0.50. 660,835 shares changed hands during trading, an increase of 492% from the average session volume of 111,695 shares. The stock had previously closed at $0.60.

Wall Street Analysts Forecast Growth

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

Ascend Wellness Price Performance

The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.29 and a current ratio of 2.29. The firm has a market capitalization of $120.02 million, a price-to-earnings ratio of -1.37 and a beta of 1.69. The business has a fifty day moving average of $0.84 and a two-hundred day moving average of $0.96.

Ascend Wellness (OTC:AAWH) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). Ascend Wellness had a negative net margin of 15.47% and a negative return on equity of 66.28%. The firm had revenue of $141.65 million during the quarter, compared to analyst estimates of $144.13 million. As a group, research analysts predict that Ascend Wellness Holdings, Inc. will post -0.32 EPS for the current fiscal year.

Ascend Wellness Company Profile

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.