cbdMD (NYSEAMERICAN:YCBD) Issues Earnings Results

cbdMD (NYSEAMERICAN:YCBD) issued its quarterly earnings results on Friday. The company reported $0.47 earnings per share (EPS) for the quarter, FiscalAI reports. cbdMD had a negative return on equity of 57.60% and a negative net margin of 7.95%.The firm had revenue of $4.72 million for the quarter.

cbdMD Trading Down 21.8%

Shares of NYSEAMERICAN YCBD traded down $0.42 on Friday, reaching $1.51. 11,488,975 shares of the company traded hands, compared to its average volume of 3,648,118. The company has a 50 day moving average of $0.88 and a 200 day moving average of $0.87. cbdMD has a fifty-two week low of $0.47 and a fifty-two week high of $6.54.

Insider Activity at cbdMD

In other news, major shareholder Clark R. Crosnoe sold 550,701 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $2.32, for a total transaction of $1,277,626.32. Following the completion of the sale, the insider owned 17,875 shares in the company, valued at approximately $41,470. The trade was a 96.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Institutional Trading of cbdMD

An institutional investor recently raised its position in cbdMD stock. Alesco Advisors LLC grew its holdings in shares of cbdMD, Inc. (NYSEAMERICAN:YCBD) by 64.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,513 shares of the company’s stock after purchasing an additional 26,748 shares during the period. Alesco Advisors LLC owned 0.77% of cbdMD worth $61,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.18% of the company’s stock.

cbdMD Company Profile

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.