MariMed (OTCMKTS:MRMD) Releases Quarterly Earnings Results, Meets Estimates

MariMed (OTCMKTS:MRMD) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01), Zacks reports. MariMed had a negative net margin of 7.82% and a negative return on equity of 5.00%.

MariMed Stock Down 8.0%

MariMed stock traded down $0.01 during trading hours on Wednesday, hitting $0.06. 460,212 shares of the stock traded hands, compared to its average volume of 508,118. MariMed has a one year low of $0.06 and a one year high of $0.23. The firm’s 50-day moving average price is $0.07 and its two-hundred day moving average price is $0.08. The company has a current ratio of 0.95, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The company has a market cap of $25.71 million, a PE ratio of -2.14 and a beta of 1.33.

MariMed Company Profile

MariMed Inc is a multi‐state cannabis company focused on the development, ownership and operation of regulated facilities for the medical and adult‐use cannabis markets. Headquartered in New Bedford, Massachusetts, the company cultivates, processes and dispenses cannabis through an integrated business model that encompasses cultivation, formulation, manufacturing and retail operations. MariMed operates under its own licensed brands and through strategic partnerships to expand its presence across the United States.

The company’s product portfolio includes branded flower, pre‐rolls, vaporizer cartridges, tinctures, edibles and topicals designed to meet a range of consumer and patient needs.