Curaleaf (OTCMKTS:CURLF) Shares Gap Up – Time to Buy?

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $9.76, but opened at $10.15. Curaleaf shares last traded at $9.8920, with a volume of 5,535 shares trading hands.

Analyst Upgrades and Downgrades

CURLF has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of Curaleaf in a research note on Thursday, August 6th. Zacks Research upgraded shares of Curaleaf from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group set a $6.00 target price on shares of Curaleaf in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus price target of $6.00.

Curaleaf Price Performance

The stock’s 50-day moving average is $9.84 and its 200-day moving average is $8.57. The firm has a market cap of $2.33 billion, a P/E ratio of -76.60 and a beta of 1.55. The company has a quick ratio of 0.73, a current ratio of 1.52 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 analysts’ consensus estimates of ($0.20) by $0.25. The firm had revenue of $340.10 million during the quarter, compared to the consensus estimate of $332.00 million. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. As a group, equities analysts anticipate that Curaleaf Holdings, Inc. will post 0.01 EPS for the current fiscal year.

Curaleaf Company Profile

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, manufactures and sells cannabis products. Through its retail dispensaries and wholesale operations, the company offers flower, pre-rolls, vaporizers, edibles, concentrates, tinctures and other cannabis-derived products for medical and adult-use markets, where permitted by law.

Curaleaf markets products under brands that include Curaleaf, Select and Grassroots. Its business is primarily focused on the United States, where it operates a network of cultivation and processing facilities, dispensaries and distribution operations across multiple state-regulated cannabis markets.