Curaleaf (OTCMKTS:CURLF) Stock Price Breaks Below 200-Day Moving Average – Here’s What Happened

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.35 and traded as low as $8.05. Curaleaf shares last traded at $8.06, with a volume of 388,325 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on CURLF. Zacks Research downgraded Curaleaf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. UBS Group set a $6.00 price target on Curaleaf in a report on Monday, October 5th. Finally, Citigroup restated a “buy” rating on shares of Curaleaf in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $6.00.

Curaleaf Stock Down 9.1%

The company’s fifty day moving average is $9.47 and its 200-day moving average is $8.35. The company has a market capitalization of $1.88 billion, a PE ratio of -201.50 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 1.61.

Curaleaf (OTCMKTS:CURLF) last released its earnings results on Tuesday, November 3rd. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. Curaleaf had a negative net margin of 0.76% and a positive return on equity of 0.43%. The company had revenue of $352.65 million for the quarter, compared to analysts’ expectations of $346.46 million. As a group, analysts predict that Curaleaf Holdings, Inc. will post 0.05 EPS for the current fiscal year.

About Curaleaf

Curaleaf Holdings, Inc. is a cannabis company that cultivates, processes and sells cannabis products for medical and adult-use markets. Its products include cannabis flower, pre-rolls, concentrates, vapes, edibles, tinctures and topical products, sold under brands including Curaleaf, Select and Grassroots. The company operates across multiple U.S. markets through cultivation and processing facilities, wholesale operations and retail dispensaries. Through Curaleaf International, it also serves medical cannabis markets in Europe and other international markets.