MariMed (OTCMKTS:MRMD) Trading Down 3.7% - Here's Why

Key Points

• MariMed Inc. shares fell 3.7% to $0.17, with trading volume significantly above average at over 3.3 million shares.
• Zacks Research upgraded MariMed from a "hold" to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• The company operates in the cannabis industry, offering products ranging from flowers to edible goods under various brands.

Shares of MariMed Inc. (OTCMKTS:MRMD - Get Free Report) traded down 3.7% on Thursday . The company traded as low as $0.15 and last traded at $0.17. 3,368,468 shares were traded during trading, an increase of 35% from the average session volume of 2,486,729 shares. The stock had previously closed at $0.18.

Analysts Set New Price Targets

Separately, Zacks Research raised 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, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

MariMed Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.36 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average price of $0.12 and a 200-day moving average price of $0.10. The firm has a market capitalization of $56.61 million, a price-to-earnings ratio of -4.83 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.