Curaleaf (OTCMKTS:CURLF) Shares Up 9.3% – Here’s What Happened

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s stock price shot up 9.3% during mid-day trading on Monday. The stock traded as high as $9.18 and last traded at $9.04. Approximately 106,001 shares traded hands during trading, a decline of 62% from the average session volume of 281,288 shares. The stock had previously closed at $8.27.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research cut Curaleaf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 13th. UBS Group set a $6.00 target price on Curaleaf in a research report on Monday, October 5th. Finally, Citigroup reiterated a “buy” rating on shares of Curaleaf in a report on Thursday, August 6th. One equities research 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 stock. Based on data from MarketBeat, Curaleaf currently has a consensus rating of “Buy” and a consensus price target of $6.00.

Curaleaf Stock Up 12.3%

The firm’s 50 day moving average is $9.57 and its two-hundred day moving average is $8.29. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -71.45 and a beta of 1.62. The company has a current ratio of 1.52, a quick ratio of 0.73 and a debt-to-equity ratio of 1.06.

Curaleaf (OTCMKTS:CURLF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.25. The company had revenue of $340.10 million during the quarter, compared to the consensus estimate of $332.00 million. Curaleaf had a negative return on equity of 0.88% and a negative net margin of 2.62%. On average, sell-side analysts predict that Curaleaf Holdings, Inc. will post 0.01 EPS for the current year.

Curaleaf Company Profile

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.