HEXO (NYSE:HEXO) Downgraded by Atb Cap Markets

HEXO (NYSE:HEXO – Get Rating) was downgraded by investment analysts at Atb Cap Markets from a “sector perform” rating to an “underperform” rating in a research note issued on Wednesday, PriceTargets.com reports.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group cut shares of HEXO from a “buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity Group upgraded shares of HEXO from a “hold” rating to a “speculative buy” rating in a research report on Friday, March 4th. Alliance Global Partners cut shares of HEXO from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Cantor Fitzgerald dropped their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.14.

HEXO stock opened at $0.20 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.96 and a quick ratio of 0.60. The company has a 50 day moving average price of $0.34 and a 200 day moving average price of $0.56. HEXO has a fifty-two week low of $0.20 and a fifty-two week high of $6.05. The stock has a market capitalization of $100.22 million, a PE ratio of -0.08 and a beta of 1.21.

HEXO (NYSE:HEXO – Get Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). HEXO had a negative return on equity of 25.67% and a negative net margin of 554.24%. The company had revenue of $41.86 million during the quarter, compared to the consensus estimate of $50.36 million. As a group, equities analysts expect that HEXO will post -1.45 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HEXO. Mackenzie Financial Corp increased its position in shares of HEXO by 115.6% in the 4th quarter. Mackenzie Financial Corp now owns 49,291 shares of the company’s stock valued at $34,000 after buying an additional 26,426 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of HEXO in the 4th quarter valued at $36,000. Cedar Brook Financial Partners LLC increased its position in shares of HEXO by 89.0% in the 4th quarter. Cedar Brook Financial Partners LLC now owns 125,320 shares of the company’s stock valued at $88,000 after buying an additional 59,000 shares in the last quarter. Credit Suisse AG increased its position in shares of HEXO by 29.1% in the 4th quarter. Credit Suisse AG now owns 137,803 shares of the company’s stock valued at $96,000 after buying an additional 31,041 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in shares of HEXO by 1,480.0% in the 1st quarter. Independent Advisor Alliance now owns 158,000 shares of the company’s stock valued at $98,000 after buying an additional 148,000 shares in the last quarter. Institutional investors and hedge funds 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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