HEXO Corp. (NYSE:HEXO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of HEXO Corp. (NYSE:HEXO) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $5.32.

A number of research analysts have recently weighed in on HEXO shares. Desjardins cut their price target on shares of HEXO from C$8.00 to C$7.50 and set a “hold” rating on the stock in a report on Wednesday, June 16th. Alliance Global Partners dropped their price objective on shares of HEXO from C$12.00 to C$7.25 and set a “buy” rating on the stock in a report on Wednesday, September 1st. Atb Cap Markets reiterated an “underperform” rating on shares of HEXO in a research report on Friday, July 23rd. Canaccord Genuity decreased their target price on shares of HEXO from C$9.00 to C$7.00 and set a “hold” rating on the stock in a research report on Tuesday, June 15th. Finally, CIBC reduced their price target on shares of HEXO from C$10.00 to C$6.00 and set an “outperform” rating on the stock in a research report on Monday, August 23rd.

HEXO stock traded down $0.11 during mid-day trading on Tuesday, hitting $2.06. The company’s stock had a trading volume of 7,352,274 shares, compared to its average volume of 5,677,500. The company has a quick ratio of 2.11, a current ratio of 3.61 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $314.61 million, a P/E ratio of -1.36 and a beta of 1.01. HEXO has a twelve month low of $2.03 and a twelve month high of $11.04. The stock’s fifty day moving average price is $3.49 and its two-hundred day moving average price is $5.37.

HEXO (NYSE:HEXO) last posted its quarterly earnings data on Sunday, June 13th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The firm had revenue of $17.95 million during the quarter, compared to analyst estimates of $27.96 million. HEXO had a negative return on equity of 12.50% and a negative net margin of 189.28%. Equities analysts expect that HEXO will post -0.26 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of HEXO during the second quarter valued at about $35,000. Quantbot Technologies LP purchased a new stake in HEXO in the first quarter worth $42,000. North Star Investment Management Corp. raised its holdings in HEXO by 246.4% in the second quarter. North Star Investment Management Corp. now owns 8,660 shares of the company’s stock worth $50,000 after purchasing an additional 6,160 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of HEXO during the second quarter valued at $61,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of HEXO by 714.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,400 shares of the company’s stock valued at $66,000 after acquiring an additional 10,000 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors.

About HEXO

HEXO Corp. is a consumer packaged goods cannabis company, which creates and distributes products to serve the global cannabis market. It serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. The company was founded by S├ębastien St.

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Analyst Recommendations for HEXO (NYSE:HEXO)

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