Ascend Wellness (OTC:AAWH) Shares Up 2.7% – Here’s Why

Ascend Wellness Holdings, Inc. (OTC:AAWH) shares were up 2.7% during mid-day trading on Thursday . The stock traded as high as $0.38 and last traded at $0.37. Approximately 181,403 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 153,118 shares. The stock had previously closed at $0.36.

Ascend Wellness Stock Performance

The company has a market cap of $79.34 million, a PE ratio of -0.90 and a beta of 1.34. The stock’s 50-day simple moving average is $0.41 and its 200 day simple moving average is $0.71. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.80 and a current ratio of 1.47.

Ascend Wellness (OTC:AAWH) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Ascend Wellness had a negative return on equity of 72.18% and a negative net margin of 15.47%. The firm had revenue of $141.65 million for the quarter, compared to analysts’ expectations of $144.13 million. As a group, equities analysts anticipate that Ascend Wellness Holdings, Inc. will post -0.4 EPS for the current year.

About Ascend Wellness

Ascend Wellness Holdings, Inc engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods in the United States. The company offers flower, pre-rolls, concentrates, vapes, edibles, tinctures, and other cannabis-related products under the Common Goods, SimplyHerb, Ozone, Ozone Reserve, Royale, Tunnel Vision, Miss Grass, Lowell Smokes, Edie Parker, 1906, and AiroPro brands.