HEXO Corp. (NYSE:HEXO) Given Average Recommendation of “Hold” by Analysts

Shares of HEXO Corp. (NYSE:HEXO – Get Rating) have received a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.64.

HEXO has been the subject of several research reports. Zacks Investment Research lowered HEXO from a “buy” rating to a “hold” rating in a research note on Friday, April 15th. Canaccord Genuity Group raised HEXO from a “hold” rating to a “speculative buy” rating in a research note on Friday, March 4th. Canaccord Genuity Group raised HEXO from a “hold” rating to a “buy” rating in a research note on Friday, March 4th. Cantor Fitzgerald cut their target price on HEXO from $1.20 to $0.90 and set a “neutral” rating for the company in a research note on Friday, March 4th. Finally, Jefferies Financial Group upgraded HEXO from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $1.07 to $0.53 in a research report on Thursday, January 27th.

Shares of HEXO opened at $0.27 on Friday. The firm has a market cap of $120.74 million, a P/E ratio of -0.11 and a beta of 1.18. The stock has a 50 day simple moving average of $0.51 and a two-hundred day simple moving average of $0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.96 and a quick ratio of 0.60. HEXO has a 1 year low of $0.25 and a 1 year high of $7.55.

HEXO (NYSE:HEXO – Get Rating) last issued its earnings results on Thursday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $41.86 million during the quarter, compared to analysts’ expectations of $50.36 million. HEXO had a negative return on equity of 22.43% and a negative net margin of 555.46%. On average, equities analysts anticipate that HEXO will post -0.87 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC raised its holdings in shares of HEXO by 79.7% during the fourth quarter. ETF Managers Group LLC now owns 23,755,677 shares of the company’s stock valued at $16,772,000 after acquiring an additional 10,537,732 shares in the last quarter. Renaissance Technologies LLC raised its holdings in HEXO by 47.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,968,125 shares of the company’s stock worth $4,169,000 after purchasing an additional 1,930,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in HEXO by 44.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,826,300 shares of the company’s stock worth $3,592,000 after purchasing an additional 1,790,635 shares in the last quarter. Morgan Stanley raised its holdings in HEXO by 1,404.7% in the third 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in HEXO by 58.4% in the fourth quarter. Bank of America Corp DE now owns 1,960,850 shares of the company’s stock worth $1,369,000 after purchasing an additional 723,157 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

HEXO Company Profile (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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