Ascend Wellness (OTC:AAWH) Trading Up 5.3% – Here’s Why

Shares of Ascend Wellness Holdings, Inc. (OTC:AAWH) shot up 5.3% on Friday . The company traded as high as $0.82 and last traded at $0.80. 57,558 shares were traded during trading, a decline of 73% from the average session volume of 209,931 shares. The stock had previously closed at $0.76.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts raised shares of Ascend Wellness to a “strong-buy” rating in a research note on Tuesday, July 16th.

Ascend Wellness Stock Performance

The firm has a market capitalization of $170.16 million, a P/E ratio of -3.48 and a beta of 1.70. The company’s 50 day moving average is $0.94 and its 200-day moving average is $1.03. The company has a quick ratio of 1.29, a current ratio of 2.29 and a debt-to-equity ratio of 2.46.

Ascend Wellness (OTC:AAWH) last issued its earnings results on Monday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $141.54 million for the quarter, compared to the consensus estimate of $145.48 million. Ascend Wellness had a negative return on equity of 50.77% and a negative net margin of 12.48%. As a group, equities analysts anticipate that Ascend Wellness Holdings, Inc. will post -0.32 EPS for the current 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.