Trulieve Cannabis (NYSE:TRLV) Stock Rating Lowered by Wall Street Zen

Trulieve Cannabis (NYSE:TRLV) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research firms also recently commented on TRLV. Weiss Ratings assumed coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 target price on shares of Trulieve Cannabis in a report on Friday. Finally, Zacks Research raised shares of Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trulieve Cannabis has a consensus rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Stock Up 0.1%

Shares of NYSE:TRLV opened at $8.76 on Friday. Trulieve Cannabis has a 52 week low of $4.62 and a 52 week high of $13.28.

Trulieve Cannabis (NYSE:TRLV) last released its earnings results on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.82 million. As a group, equities analysts anticipate that Trulieve Cannabis will post 0.2 EPS for the current fiscal year.

Insider Activity at Trulieve Cannabis

In related news, CEO Kim A. Rivers sold 400,000 shares of Trulieve Cannabis stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $8.17, for a total transaction of $3,268,000.00. Following the transaction, the chief executive officer owned 1,913,724 shares in the company, valued at approximately $15,635,125.08. The trade was a 17.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,699,007 shares of company stock valued at $14,661,355. Company insiders own 3.79% of the company’s stock.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.