Curaleaf (OTCMKTS:CURLF) Shares Up 5.7% - Here's What Happened

Key Points

• Curaleaf's shares rose 5.7% on Monday, reaching as high as $2.99 before closing at $2.98, although trading volume fell 33% from the average to 528,928 shares.
• The stock was recently upgraded from a "hold" to a "moderate buy" rating by Cormark, with the average rating currently categorized as "Strong Buy."
• Curaleaf reported a loss of ($0.06) EPS for the last quarter, outperforming analysts' expectations, and is projected to have a EPS of -0.25 for the current fiscal year.

Curaleaf Holdings, Inc. (OTCMKTS:CURLF - Get Free Report)'s stock price shot up 5.7% during trading on Monday . The company traded as high as $2.99 and last traded at $2.98. 528,928 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 785,477 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Curaleaf from a "hold" rating to a "moderate buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Curaleaf Stock Down 2.1%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.70 and a current ratio of 1.47. The business has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.21. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -10.31 and a beta of 0.69.

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