MariMed Inc. (OTCMKTS:MRMD) Sees Large Drop in Short Interest

MariMed Inc. (OTCMKTS:MRMD) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 1,866 shares, a decline of 88.4% from the June 15th total of 16,030 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 668,174 shares, the days-to-cover ratio is currently 0.0 days.

MariMed Price Performance

OTCMKTS MRMD traded up $0.00 on Friday, reaching $0.07. The company’s stock had a trading volume of 101,528 shares, compared to its average volume of 554,791. The company has a current ratio of 0.95, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average price of $0.07 and a 200 day moving average price of $0.08. The firm has a market cap of $27.15 million, a PE ratio of -2.27 and a beta of 1.32. MariMed has a 52 week low of $0.06 and a 52 week high of $0.23.

MariMed (OTCMKTS:MRMD) last issued its earnings results on Wednesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $39.48 million during the quarter, compared to analysts’ expectations of $38.75 million. MariMed had a negative return on equity of 5.00% and a negative net margin of 7.82%. Sell-side analysts expect that MariMed will post -0.04 EPS for the current year.

About MariMed

MariMed Inc is a multi‐state cannabis company focused on the development, ownership and operation of regulated facilities for the medical and adult‐use cannabis markets. Headquartered in New Bedford, Massachusetts, the company cultivates, processes and dispenses cannabis through an integrated business model that encompasses cultivation, formulation, manufacturing and retail operations. MariMed operates under its own licensed brands and through strategic partnerships to expand its presence across the United States.

The company’s product portfolio includes branded flower, pre‐rolls, vaporizer cartridges, tinctures, edibles and topicals designed to meet a range of consumer and patient needs.