MariMed Inc. (OTCMKTS:MRMD) Sees Significant Decline in Short Interest

Key Points

• MariMed Inc. experienced a significant decrease in short interest, dropping by 66.1% to 16,100 shares by August 31st.
• Zacks Research upgraded MariMed's rating from "hold" to "strong-buy" on August 13th, contributing to a consensus rating of "Strong Buy" among analysts.
• The stock is currently priced at $0.14 and has a market capitalization of $56.03 million, with a 12-month price range between $0.07 and $0.23.

MariMed Inc. (OTCMKTS:MRMD - Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 16,100 shares, a decrease of 66.1% from the August 15th total of 47,500 shares. Based on an average daily volume of 4,684,900 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 4,684,900 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of MariMed from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Strong Buy".

MariMed Price Performance

Shares of MariMed stock remained flat at $0.14 on Wednesday. 519,162 shares of the company traded hands, compared to its average volume of 2,375,452. MariMed has a 1-year low of $0.07 and a 1-year high of $0.23. The company has a quick ratio of 0.36, a current ratio of 1.12 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average of $0.12 and a two-hundred day moving average of $0.10. The stock has a market cap of $54.96 million, a P/E ratio of -4.67 and a beta of 3.01.

MariMed Company Profile

MariMed Inc engages in cultivation, production, and dispensing of medicinal and recreational cannabis in the United States and internationally. The company sells flowers and concentrates under the Nature's Heritage brand; and soft and chewy baked goods and a hot chocolate mix under Bubby's Baked brand; and drink mix under Vibations brand.