Curaleaf (OTCMKTS:CURLF) Shares Gap Down – What’s Next?

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $10.8060, but opened at $10.06. Curaleaf shares last traded at $9.98, with a volume of 62,126 shares trading hands.

Wall Street Analysts Forecast Growth

CURLF has been the subject of several research reports. Zacks Research raised Curaleaf from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Citigroup reaffirmed a “buy” rating on shares of Curaleaf in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Curaleaf Trading Down 9.2%

The firm has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $8.46. The company has a quick ratio of 0.73, a current ratio of 1.52 and a debt-to-equity ratio of 1.06. The stock has a market cap of $2.29 billion, a PE ratio of -75.45 and a beta of 1.57.

Curaleaf (OTCMKTS:CURLF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.25. Curaleaf had a negative net margin of 2.62% and a negative return on equity of 0.88%. The company had revenue of $340.10 million during the quarter, compared to analyst estimates of $332.00 million. Equities analysts forecast that Curaleaf Holdings, Inc. will post 0.01 earnings per share for the current year.

About Curaleaf

Curaleaf Holdings, Inc is a cannabis company that cultivates, processes, distributes and sells cannabis products in the United States and select international markets. Its operations include cannabis cultivation and processing facilities, retail dispensaries and wholesale distribution, serving both medical cannabis patients and adult-use consumers where permitted by law.

The company offers a broad portfolio of products, including cannabis flower, pre-rolls, vape products, concentrates, edibles, tinctures and other wellness-oriented products.