Ascend Wellness (OTC:AAWH) Stock Price Up 13% – Here’s Why

Ascend Wellness Holdings, Inc. (OTC:AAWH)’s share price rose 13% on Thursday . The stock traded as high as $0.5902 and last traded at $0.59. Approximately 177,952 shares were traded during mid-day trading, an increase of 124% from the average daily volume of 79,450 shares. The stock had previously closed at $0.5220.

Analysts Set New Price Targets

Separately, Zacks Research cut Ascend Wellness from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Ascend Wellness Stock Down 15.3%

The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 2.61. The firm has a market cap of $102.22 million, a price-to-earnings ratio of -1.22 and a beta of 1.11. The firm’s 50 day simple moving average is $0.66 and its two-hundred day simple moving average is $0.68.

Ascend Wellness Company Profile

Ascend Wellness Holdings, Inc engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods in the United States. The company offers flower, pre-rolls, concentrates, vapes, edibles, tinctures, and other cannabis-related products under the Common Goods, SimplyHerb, Ozone, Ozone Reserve, Royale, Tunnel Vision, Miss Grass, Lowell Smokes, Edie Parker, 1906, and AiroPro brands. It also owns, operates, and manages cannabis cultivation facilities and dispensaries. The company sells its products through company-owned retail stores and third-party licensed retail cannabis stores.