Promising Cannabis Stocks To Follow Now – May 15th

Incannex Healthcare, Tilray, Innovative Industrial Properties, Indivior, Canopy Growth, Turning Point Brands, and Gibraltar Industries are the seven Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies involved in the cultivation, processing, distribution or research of cannabis and hemp products. Investors trade these equities to gain exposure to the growing market for medicinal and recreational cannabis. As a sector, they can be more volatile than broader market indices due to changing regulations and shifts in consumer demand. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

Incannex Healthcare (IXHL)

Incannex Healthcare Inc., a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.

Incannex Healthcare stock traded up $0.12 during midday trading on Thursday, hitting $0.82. 101,633,285 shares of the stock were exchanged, compared to its average volume of 6,815,072. Incannex Healthcare has a 52-week low of $0.08 and a 52-week high of $3.55. The stock has a market capitalization of $14.63 million, a price-to-earnings ratio of -0.59 and a beta of 7.67. The business’s 50-day moving average price is $0.56 and its 200-day moving average price is $1.42. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.47.

Tilray (TLRY)

Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc. is headquartered in Canada.

Tilray stock traded down $0.02 during midday trading on Thursday, hitting $0.43. 11,537,998 shares of the stock were exchanged, compared to its average volume of 28,319,292. Tilray has a 52-week low of $0.41 and a 52-week high of $2.23. The stock has a market capitalization of $427.76 million, a price-to-earnings ratio of -1.41 and a beta of 1.95. The business’s 50-day moving average price is $0.54 and its 200-day moving average price is $0.98. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Innovative Industrial Properties (IIPR)

Innovative Industrial Properties stock traded up $0.26 during midday trading on Thursday, hitting $55.58. 75,192 shares of the stock were exchanged, compared to its average volume of 270,091. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 10.05 and a beta of 1.73. Innovative Industrial Properties has a 52-week low of $45.44 and a 52-week high of $138.35. The business’s 50-day moving average price is $56.91 and its 200-day moving average price is $76.56.

Indivior (INDV)

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.

INDV traded up $0.02 during midday trading on Thursday, reaching $11.05. The company had a trading volume of 266,940 shares, compared to its average volume of 997,878. The stock has a market cap of $1.52 billion, a PE ratio of -31.51 and a beta of 0.98. Indivior has a 12-month low of $7.33 and a 12-month high of $18.59. The business has a 50-day moving average price of $10.05 and a two-hundred day moving average price of $10.59.

Canopy Growth (CGC)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

Canopy Growth stock traded down $0.07 during midday trading on Thursday, reaching $1.35. 2,150,000 shares of the stock were exchanged, compared to its average volume of 5,859,664. The company’s fifty day moving average is $1.14 and its 200-day moving average is $2.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52. The firm has a market cap of $247.30 million, a PE ratio of -0.35 and a beta of 0.79. Canopy Growth has a 52 week low of $0.77 and a 52 week high of $11.95.

Turning Point Brands (TPB)

Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

Turning Point Brands stock traded up $1.61 during midday trading on Thursday, reaching $72.96. 34,783 shares of the stock were exchanged, compared to its average volume of 166,957. The company’s fifty day moving average is $60.21 and its 200-day moving average is $60.39. The firm has a market cap of $1.31 billion, a PE ratio of 28.95 and a beta of 0.69. Turning Point Brands has a 52 week low of $30.61 and a 52 week high of $81.05. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Gibraltar Industries (ROCK)

Gibraltar Industries, Inc. manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.

Shares of NASDAQ:ROCK traded down $0.44 during trading on Thursday, reaching $61.16. The company had a trading volume of 40,380 shares, compared to its average volume of 219,494. The company has a fifty day moving average of $57.58 and a two-hundred day moving average of $62.29. The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.68 and a beta of 1.30. Gibraltar Industries has a 12 month low of $48.96 and a 12 month high of $81.90.