MariMed (OTCMKTS:MRMD) Releases Earnings Results, Meets Expectations

MariMed (OTCMKTS:MRMD) issued its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01), Zacks reports. The firm had revenue of $40.76 million during the quarter, compared to analysts’ expectations of $42.15 million. MariMed had a negative net margin of 11.36% and a negative return on equity of 14.37%.

MariMed Stock Down 12.5%

MariMed stock opened at $0.10 on Friday. The company has a 50 day moving average of $0.15 and a 200-day moving average of $0.11. The company has a quick ratio of 0.36, a current ratio of 1.12 and a debt-to-equity ratio of 1.25. MariMed has a twelve month low of $0.07 and a twelve month high of $0.23. The stock has a market capitalization of $38.26 million, a PE ratio of -2.43 and a beta of 2.96.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of MariMed from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy”.

MariMed Company Profile

MariMed Inc engages in cultivation, production, and dispensing of medicinal and recreational cannabis in the United States and internationally. The company sells flowers and concentrates under the Nature’s Heritage brand; and soft and chewy baked goods and a hot chocolate mix under Bubby’s Baked brand; and drink mix under Vibations brand.