HEXO Corp. (NYSE:HEXO – Get Rating) has received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.64.
Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of HEXO from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. Canaccord Genuity Group raised shares of HEXO from a “hold” rating to a “buy” rating in a research report on Friday, March 4th. Atb Cap Markets raised shares of HEXO from an “underperform” rating to a “sector perform” rating in a research report on Thursday, March 3rd. Cantor Fitzgerald reduced their price target on shares of HEXO from $1.20 to $0.90 and set a “neutral” rating for the company in a research report on Friday, March 4th. Finally, Canaccord Genuity Group raised shares of HEXO from a “hold” rating to a “speculative buy” rating in a research report on Friday, March 4th.
NYSE:HEXO opened at $0.27 on Friday. The firm has a market cap of $120.74 million, a PE ratio of -0.11 and a beta of 1.18. HEXO has a 12 month low of $0.25 and a 12 month high of $7.55. The company has a quick ratio of 0.60, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.75.
HEXO (NYSE:HEXO – Get Rating) last announced its quarterly earnings data on Thursday, March 17th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $41.86 million for the quarter, compared to analyst estimates of $50.36 million. HEXO had a negative return on equity of 22.43% and a negative net margin of 555.46%. On average, research analysts expect that HEXO will post -0.87 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of HEXO. ETF Managers Group LLC raised its stake in shares of HEXO by 79.7% during the 4th quarter. ETF Managers Group LLC now owns 23,755,677 shares of the company’s stock worth $16,772,000 after purchasing an additional 10,537,732 shares during the period. Morgan Stanley raised its stake in shares of HEXO by 1,404.7% during the 3rd quarter. Morgan Stanley now owns 5,353,179 shares of the company’s stock worth $9,850,000 after purchasing an additional 4,997,413 shares during the period. Renaissance Technologies LLC bought a new stake in shares of HEXO during the 3rd quarter worth $7,418,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of HEXO by 126.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,035,665 shares of the company’s stock worth $2,812,000 after purchasing an additional 2,250,943 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of HEXO by 811.4% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,000,472 shares of the company’s stock worth $1,840,000 after purchasing an additional 890,696 shares during the period. 27.55% of the stock is currently owned by hedge funds and other institutional investors.
About HEXO (Get Rating)
HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. It also provides cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brands; and cannabis products under UP Cannabis, Original Stash, and Up brand names.
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