Curaleaf (OTCMKTS:CURLF) Shares Down 5.4% – Here’s Why

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s share price was down 5.4% during mid-day trading on Friday. The stock traded as low as $9.5950 and last traded at $9.73. Approximately 101,440 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 293,445 shares. The stock had previously closed at $10.2832.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CURLF shares. Zacks Research raised Curaleaf from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Citigroup reaffirmed a “buy” rating on shares of Curaleaf in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Curaleaf Stock Performance

The firm has a market cap of $2.31 billion, a P/E ratio of -76.05 and a beta of 1.55. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.73 and a current ratio of 1.52. The stock’s 50-day moving average is $9.78 and its 200 day moving average is $8.51.

Curaleaf (OTCMKTS:CURLF) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.25. Curaleaf had a negative return on equity of 0.88% and a negative net margin of 2.62%.The firm had revenue of $340.10 million for the quarter, compared to analyst estimates of $332.00 million. On average, research analysts predict that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current year.

About Curaleaf

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, manufactures and sells cannabis products. Through its retail dispensaries and wholesale operations, the company offers flower, pre-rolls, vaporizers, edibles, concentrates, tinctures and other cannabis-derived products for medical and adult-use markets, where permitted by law.

Curaleaf markets products under brands that include Curaleaf, Select and Grassroots. Its business is primarily focused on the United States, where it operates a network of cultivation and processing facilities, dispensaries and distribution operations across multiple state-regulated cannabis markets.