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Charlotte’s Web Holdings Stock Has Already Risen ~18% in January


Jan. 22 2019, Published 8:14 a.m. ET

Stock performance

On January 18, Charlotte’s Web Holdings (CWBHF) stock closed at $13.04, which represents ~1.88% growth from its prior-day close of $12.80. Charlotte’s Web Holdings stock price closed at $11.11 on December 31 and reached $13.04 on January 18, 2019, which represents ~18% YTD growth.

The company’s stock price on January 18 represents ~61% growth from its 52-week low of $8.13 on October 30, 2018. Charlotte’s Web Holdings hit its 52-week high of $20.76 on October 19, 2018. Canopy Growth (CGC), Tilray (TLRY), and Aurora Cannabis (ACB), Charlotte’s Web Holdings’ peers in the marijuana market, closed at $43.52, $77.2, and $6.44, which represents ~62%, 9%, and 30% YTD growth in 2019, respectively.

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Analysts’ recommendations

Of the three analysts tracking Charlotte’s Web Holdings (CWBHF) in January 2019, one of them recommended a “strong buy,” while the other two recommended a “buy” rating.

Harvest results

On January 15, Charlotte’s Web Holdings reported its 2018 hemp harvest results. In 2018, the company’s hemp harvest grew ten times compared to 2017. Charlotte’s Web Holdings harvests hemp in various US states. The company is one of the leading developers in the US for developing hemp plant extract products. The harvest yield will be processed through different extraction methods for sale in 2019 and 2020.

In 2018, the company produced around 675,000 pounds of hemp compared to its primary estimate range of 250,000 pounds to 350,000 pounds of hemp. In 2017, Charlotte’s Web Holdings harvested 63,000 pounds of hemp.

Financials in a nutshell

In the first nine months of 2018, Charlotte’s Web Holdings’ net revenues grew ~75% to reach $48.0 million from $27.5 million. Wall Street analysts estimate that the company will generate revenues of $70.52 million in fiscal 2018.

In the first nine months of 2018, Charlotte’s Web Holdings reported net income and diluted EPS (earnings per share) of $8.7 million and $0.10, respectively, compared to $5.1 million and $0.06 in the same period the prior year. Analysts estimate that Charlotte’s Web Holdings will report net income and EPS of $14.82 million and $0.16, respectively.


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