Zacks Investment Research Downgrades Ascend Wellness (OTC:AAWH) to Sell

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

According to Zacks, “Ascend Wellness Holdings Inc. is a vertically integrated multi-state cannabis operator focused on bettering lives through cannabis. Ascend Wellness Holdings Inc. is based in NEW YORK. “

Separately, Needham & Company LLC dropped their price objective on shares of Ascend Wellness from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th.

Shares of OTC:AAWH traded up $0.05 during midday trading on Thursday, reaching $3.00. The company had a trading volume of 49,674 shares, compared to its average volume of 39,479. The stock has a 50 day simple moving average of $3.37. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.67 and a current ratio of 2.38. Ascend Wellness has a 52-week low of $2.81 and a 52-week high of $15.81.

Ascend Wellness Company Profile (Get Rating)

Ascend Wellness Holdings, Inc engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods. Its cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. As of December 31, 2021, the company operated 20 retail locations.

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