Ascend Wellness (OTCMKTS:AAWH) Shares Down 6.9% – What’s Next?

Ascend Wellness Holdings, Inc. (OTCMKTS:AAWH)’s share price dropped 6.9% during trading on Monday . The stock traded as low as $0.41 and last traded at $0.4190. Approximately 11,211 shares changed hands during trading, a decline of 66% from the average session volume of 33,253 shares. The stock had previously closed at $0.45.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Ascend Wellness from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Ascend Wellness Price Performance

The company’s 50 day moving average price is $0.50 and its 200 day moving average price is $0.54. The firm has a market capitalization of $86.77 million, a P/E ratio of -0.67 and a beta of 1.20.

Ascend Wellness (OTCMKTS:AAWH) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ascend Wellness had a negative return on equity of 1,099.51% and a negative net margin of 26.24%. On average, research analysts anticipate 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. 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.