Short Interest in MariMed Inc. (OTCMKTS:MRMD) Expands By 52.8%

Key Points

• MariMed Inc. experienced a significant increase in short interest, growing by 52.8% in September, totaling 24,600 shares compared to 16,100 shares in August.
• The stock price for MRMD opened at $0.17, reflecting a 6.5% increase, with a twelve-month high of $0.23.
• Zacks Research upgraded MariMed's stock rating from "hold" to "strong-buy", contributing to a consensus rating of "Strong Buy" from investment analysts.

MariMed Inc. (OTCMKTS:MRMD - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 24,600 shares, a growth of 52.8% from the August 31st total of 16,100 shares. Based on an average daily volume of 5,181,900 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 5,181,900 shares, the short-interest ratio is presently 0.0 days.

MariMed Trading Up 6.5%

Shares of MRMD opened at $0.17 on Tuesday. The stock's fifty day simple moving average is $0.13 and its 200 day simple moving average is $0.10. MariMed has a twelve month low of $0.07 and a twelve month high of $0.23. 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 firm has a market capitalization of $64.78 million, a P/E ratio of -5.50 and a beta of 2.98.

Analyst Ratings Changes

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, According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

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.

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