Curaleaf (OTCMKTS:CURLF) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Curaleaf shares moved above their 200-day moving average of $8.28, reaching $8.58 before closing at $8.49 on volume of 92,077 shares.
• Analysts have an overall “Buy” consensus, with one Strong Buy, two Buy and one Hold rating; the consensus price target is $6.00, below the latest trading price.
• Curaleaf’s latest quarterly results exceeded expectations, reporting EPS of $0.05 versus estimates of a $0.20 loss and revenue of $340.1 million versus the $332 million consensus.

Curaleaf Holdings, Inc. (OTCMKTS:CURLF - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $8.28 and traded as high as $8.58. Curaleaf shares last traded at $8.49, with a volume of 92,077 shares.

Analyst Upgrades and Downgrades

CURLF has been the topic of a number of research analyst reports. UBS Group set a $6.00 price target on Curaleaf in a report on Monday, October 5th. Citigroup reiterated a "buy" rating on shares of Curaleaf in a report on Thursday, August 6th. Finally, Zacks Research lowered Curaleaf from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Curaleaf currently has an average rating of "Buy" and a consensus target price of $6.00.

Curaleaf Trading Up 6.1%

The stock has a market cap of $1.98 billion, a PE ratio of -65.30 and a beta of 1.55. The business has a fifty day simple moving average of $9.63 and a two-hundred day simple moving average of $8.28.

Curaleaf (OTCMKTS:CURLF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.25. The firm had revenue of $340.10 million during the quarter, compared to analysts' expectations of $332.00 million. On average, research analysts predict that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current year.

About Curaleaf

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, distributes and sells cannabis products for medical and adult-use markets. Its portfolio includes cannabis flower, pre-rolls, vaporizers, concentrates, edibles, tinctures, capsules, topicals and other wellness products, offered under brands such as Curaleaf, Select and Grassroots.

The company serves customers through a network of retail dispensaries and wholesale channels in regulated U.S. cannabis markets. Its operations include cultivation and manufacturing facilities as well as dispensaries, with products distributed in multiple states where medical or adult-use cannabis is permitted.

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