MariMed Inc. (OTCMKTS:MRMD) Sees Large Drop in Short Interest

MariMed Inc. (OTCMKTS:MRMD) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 20,807 shares, a drop of 42.2% from the April 15th total of 36,003 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 2,603,967 shares, the days-to-cover ratio is currently 0.0 days.

MariMed Stock Performance

Shares of OTCMKTS:MRMD traded down $0.01 during trading on Friday, hitting $0.07. The stock had a trading volume of 1,602,744 shares, compared to its average volume of 962,351. MariMed has a 12-month low of $0.06 and a 12-month high of $0.23. The stock has a market capitalization of $26.57 million, a price-to-earnings ratio of -2.22 and a beta of 1.33. The company has a quick ratio of 0.38, a current ratio of 1.00 and a debt-to-equity ratio of 1.44. The stock has a 50-day simple moving average of $0.08 and a two-hundred day simple moving average of $0.09.

MariMed (OTCMKTS:MRMD) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). MariMed had a negative return on equity of 4.82% and a negative net margin of 7.82%.The firm had revenue of $39.48 million during the quarter, compared to analysts’ expectations of $38.75 million. On average, equities research analysts expect that MariMed will post -0.05 earnings per share for the current fiscal year.

MariMed Company Profile

MariMed Inc is a multi‐state cannabis company focused on the development, ownership and operation of regulated facilities for the medical and adult‐use cannabis markets. Headquartered in New Bedford, Massachusetts, the company cultivates, processes and dispenses cannabis through an integrated business model that encompasses cultivation, formulation, manufacturing and retail operations. MariMed operates under its own licensed brands and through strategic partnerships to expand its presence across the United States.

The company’s product portfolio includes branded flower, pre‐rolls, vaporizer cartridges, tinctures, edibles and topicals designed to meet a range of consumer and patient needs.