Ayr Wellness (OTCMKTS:AYRWF) Downgraded by Zacks Investment Research to Sell

Ayr Wellness (OTCMKTS:AYRWFGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other equities research analysts have also recently weighed in on AYRWF. Canaccord Genuity Group cut their price objective on shares of Ayr Wellness from C$57.00 to C$40.00 and set a “buy” rating on the stock in a report on Friday, March 18th. Needham & Company LLC cut their price objective on shares of Ayr Wellness from $28.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 18th. Echelon Wealth Partners reiterated a “buy” rating and set a $45.00 price target on shares of Ayr Wellness in a report on Friday, May 27th. Finally, Cantor Fitzgerald cut their price target on shares of Ayr Wellness from $17.50 to $13.30 and set a “neutral” rating on the stock in a report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $43.55.

Shares of OTCMKTS AYRWF traded down $0.28 during midday trading on Thursday, hitting $6.10. 199,404 shares of the company traded hands, compared to its average volume of 321,005. Ayr Wellness has a 12-month low of $4.61 and a 12-month high of $31.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.75 and a quick ratio of 1.13. The stock has a 50-day moving average price of $8.60 and a 200 day moving average price of $12.62.

Ayr Wellness (OTCMKTS:AYRWFGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.06. The company had revenue of $111.23 million for the quarter, compared to analysts’ expectations of $109.90 million. Ayr Wellness had a negative net margin of 1.93% and a negative return on equity of 6.45%. On average, sell-side analysts expect that Ayr Wellness will post -0.89 earnings per share for the current year.

Ayr Wellness Company Profile (Get Rating)

Ayr Wellness Inc, a vertically-integrated cannabis multi-state operator, cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. The company's cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies.

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