cbdMD (NYSEAMERICAN:YCBD) Trading 5.1% Higher – Here’s What Happened

cbdMD, Inc. (NYSEAMERICAN:YCBD) was up 5.1% during mid-day trading on Tuesday . The stock traded as high as $0.4998 and last traded at $0.4997. Approximately 34,350 shares traded hands during trading, a decline of 85% from the average daily volume of 223,735 shares. The stock had previously closed at $0.4756.

Analysts Set New Price Targets

Separately, Maxim Group downgraded shares of cbdMD from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

cbdMD Price Performance

The stock’s 50-day moving average price is $0.56 and its two-hundred day moving average price is $0.70.

cbdMD (NYSEAMERICAN:YCBD) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The business had revenue of $5.55 million for the quarter, compared to analysts’ expectations of $5.69 million. cbdMD had a negative net margin of 13.80% and a negative return on equity of 34.26%.

Hedge Funds Weigh In On cbdMD

A hedge fund recently bought a new stake in cbdMD stock. Jane Street Group LLC purchased a new position in cbdMD, Inc. (NYSEAMERICAN:YCBD) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 51,141 shares of the company’s stock, valued at approximately $69,000. Jane Street Group LLC owned about 0.49% of cbdMD at the end of the most recent reporting period. Institutional investors and hedge funds own 7.18% of the company’s stock.

About cbdMD

cbdMD, Inc (NYSEAMERICAN: YCBD) is a Charlotte, North Carolina–based producer and distributor of hemp-derived cannabidiol (CBD) products. Since its founding in 2018, the company has focused on developing a diverse portfolio of wellness offerings designed for human and pet use. Its product range includes tinctures, capsules, gummies, topicals, and pet-specific formulations, each developed to comply with U.S. Food and Drug Administration (FDA) guidelines for hemp-derived substances.

The company operates a vertically integrated business model, sourcing U.S.-grown hemp and overseeing manufacturing processes in cGMP-certified facilities.