Ascend Wellness (OTC:AAWH) Posts Earnings Results, Misses Expectations By $0.03 EPS

Ascend Wellness (OTC:AAWH) announced its quarterly earnings results on Monday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03), Yahoo Finance reports. The firm had revenue of $141.54 million for the quarter, compared to the consensus estimate of $145.48 million. Ascend Wellness had a negative net margin of 8.76% and a negative return on equity of 31.72%.

Ascend Wellness Price Performance

Shares of AAWH traded up $0.04 during trading hours on Wednesday, reaching $0.93. 267,269 shares of the stock traded hands, compared to its average volume of 230,931. Ascend Wellness has a 52-week low of $0.46 and a 52-week high of $1.82. The company has a current ratio of 2.24, a quick ratio of 1.21 and a debt-to-equity ratio of 2.13. The company has a market cap of $197.84 million, a P/E ratio of -4.04 and a beta of 1.74. The company’s 50-day moving average price is $0.94 and its two-hundred day moving average price is $1.20.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Ventum Cap Mkts upgraded shares of Ascend Wellness to a “strong-buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Ascend Wellness in a report on Tuesday, May 7th.

Ascend Wellness Company Profile

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.