Ascend Wellness (OTC:AAWH) Stock Price Down 13.6% - What's Next?

Key Points

• Ascend Wellness Holdings, Inc. (OTC:AAWH) saw its stock price decline by 13.6%, dropping to a low of $0.73 during mid-day trading, with trading volume significantly down 17% from its average.
• Zacks Research has downgraded Ascend Wellness to a "strong sell" rating, contributing to a consensus rating of "Sell" from analysts.
• The company has a market cap of $149.24 million and shows concerning financial metrics such as a PE ratio of -1.78 and a high debt-to-equity ratio of 2.61.

Ascend Wellness Holdings, Inc. (OTC:AAWH - Get Free Report)'s stock price dropped 13.6% during mid-day trading on Tuesday . The stock traded as low as $0.73 and last traded at $0.73. Approximately 135,983 shares were traded during trading, a decline of 17% from the average daily volume of 164,109 shares. The stock had previously closed at $0.85.

Analyst Ratings Changes

Separately, Zacks Research upgraded Ascend Wellness to a "strong sell" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ascend Wellness currently has a consensus rating of "Sell".

Ascend Wellness Trading Down 13.6%

The stock's 50 day simple moving average is $0.49 and its 200 day simple moving average is $0.39. The firm has a market cap of $149.24 million, a PE ratio of -1.78 and a beta of 1.15. 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 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.

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