Charlotte’s Web (TSE:CWEB) Shares Down 2% – Here’s What Happened

Charlotte’s Web Holdings, Inc. (TSE:CWEB) fell 2% during mid-day trading on Wednesday . The stock traded as low as C$0.49 and last traded at C$0.49. 79,001 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 171,623 shares. The stock had previously closed at C$0.50.

Charlotte’s Web Stock Performance

The firm has a fifty day simple moving average of C$0.67 and a 200-day simple moving average of C$0.68. The company has a quick ratio of 1.41, a current ratio of 3.35 and a debt-to-equity ratio of -431.59. The company has a market cap of C$119.04 million, a PE ratio of -1.91 and a beta of 0.77.

Charlotte’s Web (TSE:CWEB) last posted its earnings results on Wednesday, May 13th. The company reported C($0.11) earnings per share for the quarter. The firm had revenue of C$11.16 million during the quarter. Charlotte’s Web had a negative net margin of 74.93% and a negative return on equity of 2,056.41%. On average, research analysts forecast that Charlotte’s Web Holdings, Inc. will post 0.0028902 EPS for the current fiscal year.

About Charlotte’s Web

Charlottes Web Holdings Inc is engaged in the production and distribution of hemp-based cannabidiol (CBD) wellness products. Its product categories include ingestible products (tinctures, capsules, and gummies), topicals, and pet products. The company distributes its products through an e-commerce website, third-party e-commerce websites, select distributors, health practitioners, and a variety of brick and mortar specialty retailers.