Charlotte’s Web (TSE:CWEB) Trading 25% Higher – Here’s What Happened

Charlotte’s Web Holdings, Inc. (TSE:CWEB)’s stock price shot up 25% on Thursday . The company traded as high as C$0.28 and last traded at C$0.28. 364,140 shares changed hands during mid-day trading, an increase of 450% from the average session volume of 66,198 shares. The stock had previously closed at C$0.22.

Charlotte’s Web Stock Performance

The company has a current ratio of 3.03, a quick ratio of 1.41 and a debt-to-equity ratio of 203.10. The stock has a market cap of C$44.64 million, a PE ratio of -2.00 and a beta of 2.04. The business’s 50-day moving average price is C$0.18 and its 200-day moving average price is C$0.16.

Charlotte’s Web (TSE:CWEB) last announced its earnings results on Wednesday, November 12th. The company reported C($0.04) earnings per share for the quarter. Charlotte’s Web had a negative net margin of 66.35% and a negative return on equity of 83.34%. The firm had revenue of C$16.02 million during the quarter. As a group, equities research analysts expect that Charlotte’s Web Holdings, Inc. will post 0.0028902 earnings per share for the current fiscal year.

Charlotte’s Web Company Profile

Charlottes Web Holdings Inc is engaged in the production and distribution of hemp-based cannabidiol (CBD) wellness products. Its product categories include ingestible products (tinctures, capsules, and gummies), topicals, and pet products. The company distributes its products through an e-commerce website, third-party e-commerce websites, select distributors, health practitioners, and a variety of brick and mortar specialty retailers.