Charlotte’s Web (OTCMKTS:CWBHF – Get Rating) was downgraded by stock analysts at Benchmark from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports.
A number of other analysts have also recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of Charlotte’s Web from $1.50 to $1.20 and set a “neutral” rating for the company in a research report on Friday, March 25th. Piper Sandler reduced their price target on shares of Charlotte’s Web from $2.00 to $1.00 in a research report on Friday, March 25th. Finally, Canaccord Genuity Group dropped their price objective on shares of Charlotte’s Web from C$5.00 to C$3.00 and set a “buy” rating on the stock in a research note on Friday, March 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Charlotte’s Web presently has an average rating of “Hold” and a consensus target price of $2.55.
Shares of OTCMKTS:CWBHF opened at $0.50 on Wednesday. Charlotte’s Web has a 12 month low of $0.45 and a 12 month high of $4.88. The business’s 50 day simple moving average is $0.97 and its 200-day simple moving average is $1.14.
Charlotte’s Web (OTCMKTS:CWBHF – Get Rating) last issued its quarterly earnings results on Thursday, March 24th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.81).
About Charlotte’s Web (Get Rating)
Charlotte’s Web Holdings, Inc engages in farming, manufacturing, marketing, and selling hemp-derived cannabidiol (CBD) wellness products. The company’s products categories include hemp extract oil tinctures, such as liquid products; gummies comprising sleep, stress, immunity, and exercise recovery products; and capsules, CBD topical creams, and lotions, as well as products for pets under the Charlotte’s Web, CBD Medic, CBD Clinic, and Harmony Hemp brands.
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