Curaleaf (OTCMKTS:CURLF) Shares Gap Down – Time to Sell?

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s share price gapped down before the market opened on Friday. The stock had previously closed at $8.87, but opened at $8.26. Curaleaf shares last traded at $8.15, with a volume of 3,628 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on CURLF. Citigroup reaffirmed a “buy” rating on shares of Curaleaf in a report on Thursday, August 6th. Zacks Research downgraded Curaleaf from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Finally, UBS Group set a $6.00 price objective on Curaleaf in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Curaleaf has an average rating of “Buy” and an average price target of $6.00.

Curaleaf Trading Down 2.9%

The firm has a 50-day simple moving average of $9.47 and a 200-day simple moving average of $8.35. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 1.09. The stock has a market cap of $1.83 billion, a PE ratio of -195.75 and a beta of 1.62.

Curaleaf (OTCMKTS:CURLF) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Curaleaf had a positive return on equity of 0.43% and a negative net margin of 0.76%. The business had revenue of $352.65 million during the quarter, compared to analyst estimates of $346.46 million. Equities analysts forecast that Curaleaf Holdings, Inc. will post 0.05 earnings per share for the current year.

About Curaleaf

Curaleaf Holdings, Inc. is a cannabis company that cultivates, processes and sells cannabis products for medical and adult-use markets. Its products include cannabis flower, pre-rolls, concentrates, vapes, edibles, tinctures and topical products, sold under brands including Curaleaf, Select and Grassroots. The company operates across multiple U.S. markets through cultivation and processing facilities, wholesale operations and retail dispensaries. Through Curaleaf International, it also serves medical cannabis markets in Europe and other international markets.