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The latest update is out from Adastra Labs Holdings Ltd. ( (TSE:XTRX) ).
Adastra Holdings Ltd. has completed the sale of its subsidiaries, Adastra Labs Holdings (2019) Ltd., 1178562 B.C. Ltd., and Adastra Brands Inc., to 1538634 B.C. Ltd. for a total of $4,000,000. This strategic move, which includes leaseback and intellectual property licensing agreements, is aimed at strengthening the company’s balance sheet, reducing debt, and streamlining operations while allowing Adastra to continue operating from its current facility and retain the use of its established brands and trademarks.
The most recent analyst rating on (TSE:XTRX) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Adastra Labs Holdings Ltd. stock, see the TSE:XTRX Stock Forecast page.
Spark’s Take on TSE:XTRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:XTRX is a Neutral.
Adastra Labs Holdings Ltd. has a low overall stock score primarily due to significant financial challenges, including declining revenue, persistent losses, and high leverage. Technical indicators suggest weak momentum, and the negative P/E ratio reflects unprofitability, further impacting the stock’s attractiveness.
To see Spark’s full report on TSE:XTRX stock, click here.
More about Adastra Labs Holdings Ltd.
Adastra Holdings Ltd. is a prominent Canadian company specializing in the supply and manufacturing of ethnobotanical and cannabis products for lawful adult use. The company serves medical markets and focuses on therapeutic applications, with its cannabis concentrate products available at over 2,000 retail locations across Canada. Adastra’s brands, Phyto Extractions and Endgame Extracts, are well-established in the market. As a Health Canada licensed facility, Adastra excels in extraction, distillation, and manufacturing of cannabis-derived products, partnering with healthcare professionals to meet medical cannabis market needs.
Average Trading Volume: 7,762
Technical Sentiment Signal: Sell
Current Market Cap: C$1.29M
Find detailed analytics on XTRX stock on TipRanks’ Stock Analysis page.