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.
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.
- Get a free copy of the StockNews.com research report on HEXO (HEXO)
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