Curaleaf (OTCMKTS:CURLF) Shares Up 7.8% - Here's Why

Key Points

• Curaleaf's stock price increased by 7.8% during mid-day trading, reaching a high of $3.23 before closing at $3.17.
• Cormark upgraded Curaleaf from a "hold" rating to a "moderate buy" rating, contributing to the company's average rating of "Strong Buy".
• The company reported its quarterly earnings, with an EPS of ($0.06), slightly beating the consensus estimate of ($0.07).

Curaleaf Holdings, Inc. (OTCMKTS:CURLF - Get Free Report)'s share price rose 7.8% on Tuesday . The company traded as high as $3.23 and last traded at $3.17. Approximately 431,762 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 810,920 shares. The stock had previously closed at $2.94.

Wall Street Analysts Forecast Growth

Separately, Cormark upgraded shares of Curaleaf from a "hold" rating to a "moderate buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Curaleaf has a consensus rating of "Strong Buy".

Curaleaf Stock Performance

The company has a market capitalization of $1.61 billion, a PE ratio of -7.52 and a beta of 0.78. The company has a current ratio of 1.47, a quick ratio of 0.70 and a debt-to-equity ratio of 1.00. The firm's 50-day simple moving average is $2.10 and its 200-day simple moving average is $1.31.

Curaleaf (OTCMKTS:CURLF - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Curaleaf had a negative net margin of 18.08% and a negative return on equity of 14.61%. On average, research analysts predict that Curaleaf Holdings, Inc. will post -0.25 earnings per share for the current year.

Curaleaf Company Profile

Curaleaf Holdings, Inc operates a cannabis operator in the United States. It operates through two segments, Domestic Operations and International Operations. The company offers flower, pre-rolls, flower pots, and dry-herb vaporizer cartridges; concentrates for vaporizing which includes pre-filled vaporizer cartridges and disposable vaporizer pens; and concentrates for dabbing, such as mints, distillate droppers, mints, topical balms and lotions, tinctures, lozenges, capsules, and edibles.