Charlotte’s Web (TSE:CWEB) Shares Down 16.4% – Here’s What Happened

Shares of Charlotte’s Web Holdings, Inc. (TSE:CWEB) were down 16.4% during mid-day trading on Monday. The stock traded as low as C$0.26 and last traded at C$0.26. Approximately 182,164 shares traded hands during trading, an increase of 45% from the average daily volume of 125,710 shares. The stock had previously closed at C$0.30.

Charlotte’s Web Stock Performance

The stock has a 50-day moving average of C$0.38 and a 200 day moving average of C$0.59. The firm has a market capitalization of C$67.82 million, a P/E ratio of -1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 23.29, a quick ratio of 1.41 and a current ratio of 4.19.

Charlotte’s Web (TSE:CWEB) last released its quarterly earnings results on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$15.42 million during the quarter. Charlotte’s Web had a negative net margin of 73.65% and a negative return on equity of 283.89%. On average, research analysts anticipate that Charlotte’s Web Holdings, Inc. will post 0.00 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Raymond Kunkel acquired 137,935 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average price of C$0.28 per share, for a total transaction of C$38,621.80. Following the transaction, the insider directly owned 914,929 shares of the company’s stock, valued at approximately C$256,180.12. This trade represents a 17.75% increase in their position. 11.25% of the stock is owned by company insiders.

About Charlotte’s Web

Charlotte’s Web Holdings, Inc, a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and a market leader in hemp extract wellness that includes Charlotte’s Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD and cannabinoid isolates. The Company’s hemp extracts have naturally occurring botanical compounds including cannabidiol (‘CBD’), CBN, CBC, CBG, THC, terpenes, flavonoids, and other beneficial compounds. Charlotte’s Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, hemp-derived THC microdose gummies, functional mushroom gummies, CBD capsules, CBD topical creams, and lotions, as well as CBD pet products for dogs.