cbdMD (NYSEAMERICAN:YCBD) Shares Down 7.6% – Here’s Why

cbdMD, Inc. (NYSEAMERICAN:YCBD – Get Free Report) traded down 7.6% during trading on Friday . The company traded as low as $0.5602 and last traded at $0.5699. Approximately 231,445 shares traded hands during trading, an increase of 2% from the average session volume of 226,930 shares. The stock had previously closed at $0.6170.

cbdMD Trading Down 7.6%

The company’s 50-day moving average is $0.72 and its two-hundred day moving average is $0.81.

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cbdMD (NYSEAMERICAN:YCBD – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $5.64 million for the quarter, compared to analysts’ expectations of $5.29 million. cbdMD had a negative return on equity of 33.60% and a negative net margin of 13.29%.

Hedge Funds Weigh In On cbdMD

A hedge fund recently bought a new position in cbdMD stock. Jane Street Group LLC bought a new position in cbdMD, Inc. (NYSEAMERICAN:YCBD – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,141 shares of the company’s stock, valued at approximately $69,000. Jane Street Group LLC owned about 0.49% of cbdMD at the end of the most recent reporting period. Institutional investors and hedge funds own 7.18% of the company’s stock.

About cbdMD

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cbdMD, Inc (NYSEAMERICAN: YCBD) is a Charlotte, North Carolina–based producer and distributor of hemp-derived cannabidiol (CBD) products. Since its founding in 2018, the company has focused on developing a diverse portfolio of wellness offerings designed for human and pet use. Its product range includes tinctures, capsules, gummies, topicals, and pet-specific formulations, each developed to comply with U.S. Food and Drug Administration (FDA) guidelines for hemp-derived substances.

The company operates a vertically integrated business model, sourcing U.S.-grown hemp and overseeing manufacturing processes in cGMP-certified facilities.

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