Ascend Wellness (OTC:AAWH) Trading Down 11.8% - Time to Sell?

Key Points

• Ascend Wellness Holdings, Inc. (OTC:AAWH) experienced a significant decline of 11.8%, trading at $0.82, down from a previous close of $0.93, with trading volume dropping by 49% from its daily average.
• Analysts from Zacks Research have upgraded the stock's rating from "strong sell" to "hold", resulting in an overall average rating of "Hold".
• The company has a market capitalization of $167.64 million and a debt-to-equity ratio of 2.61, indicating potential financial stress amid its operations in the cannabis sector.

Ascend Wellness Holdings, Inc. (OTC:AAWH - Get Free Report) was down 11.8% on Thursday . The stock traded as low as $0.82 and last traded at $0.82. Approximately 85,365 shares were traded during trading, a decline of 49% from the average daily volume of 168,829 shares. The stock had previously closed at $0.93.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Ascend Wellness from a "strong sell" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Ascend Wellness Stock Down 11.8%

The firm's fifty day moving average price is $0.73 and its 200-day moving average price is $0.48. The company has a market capitalization of $167.64 million, a price-to-earnings ratio of -2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.47 and a quick ratio of 0.80.

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.

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