Zacks Research Downgrades Ascend Wellness (OTCMKTS:AAWH) to Strong Sell

Ascend Wellness (OTCMKTS:AAWH) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Ascend Wellness Stock Down 3.9%

AAWH stock opened at $0.44 on Thursday. Ascend Wellness has a one year low of $0.26 and a one year high of $1.20. The company has a debt-to-equity ratio of 133.34, a quick ratio of 1.14 and a current ratio of 1.92. The firm’s fifty day moving average is $0.55 and its 200 day moving average is $0.65. The firm has a market cap of $90.77 million, a PE ratio of -0.77 and a beta of 1.12.

Ascend Wellness (OTCMKTS:AAWH) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ascend Wellness had a negative return on equity of 1,099.51% and a negative net margin of 23.61%.The firm had revenue of $120.55 million during the quarter, compared to analyst estimates of $120.00 million. On average, research analysts forecast that Ascend Wellness will post -0.4 EPS for the current 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. It also owns, operates, and manages cannabis cultivation facilities and dispensaries. The company sells its products through company-owned retail stores and third-party licensed retail cannabis stores.