Curaleaf (OTCMKTS:CURLF) Shares Gap Up – Still a Buy?

Shares of Curaleaf Holdings, Inc. (OTCMKTS:CURLF) gapped up before the market opened on Wednesday. The stock had previously closed at $9.76, but opened at $10.15. Curaleaf shares last traded at $9.8920, with a volume of 5,535 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on CURLF. Citigroup reiterated a “buy” rating on shares of Curaleaf in a research note on Thursday, August 6th. UBS Group set a $6.00 price target on Curaleaf in a research report on Monday. Finally, Zacks Research raised shares of Curaleaf from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average target price of $6.00.

Curaleaf Price Performance

The stock has a market capitalization of $2.20 billion, a P/E ratio of -72.60 and a beta of 1.55. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.73 and a current ratio of 1.52. The firm has a 50-day moving average price of $9.88 and a 200 day moving average price of $8.61.

Curaleaf (OTCMKTS:CURLF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.25. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. The firm had revenue of $340.10 million during the quarter, compared to analyst estimates of $332.00 million. On average, analysts expect that Curaleaf Holdings, Inc. will post 0.01 EPS for the current year.

Curaleaf Company Profile

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, manufactures and sells cannabis products. Through its retail dispensaries and wholesale operations, the company offers flower, pre-rolls, vaporizers, edibles, concentrates, tinctures and other cannabis-derived products for medical and adult-use markets, where permitted by law.

Curaleaf markets products under brands that include Curaleaf, Select and Grassroots. Its business is primarily focused on the United States, where it operates a network of cultivation and processing facilities, dispensaries and distribution operations across multiple state-regulated cannabis markets.