HEXO Corp. (NASDAQ:HEXO) Given Consensus Recommendation of “Hold” by Brokerages
Shares of HEXO Corp. (NASDAQ:HEXO) have received a consensus recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.72.
A number of analysts recently issued reports on HEXO shares. Bank of America set a $10.00 price target on shares of HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. Oppenheimer lowered shares of HEXO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. TheStreet lowered shares of HEXO from a “c-” rating to a “d+” rating in a research note on Monday, July 22nd. Finally, CIBC reiterated a “market perform” rating on shares of HEXO in a research note on Tuesday, June 25th.
Shares of NASDAQ:HEXO traded up $0.08 during midday trading on Friday, reaching $4.25. The company had a trading volume of 95,329 shares, compared to its average volume of 3,489,347. The stock’s fifty day moving average price is $4.27 and its 200-day moving average price is $5.72. HEXO has a one year low of $3.02 and a one year high of $8.40.
Hedge funds have recently added to or reduced their stakes in the business. TCG Advisors LP bought a new stake in HEXO during the first quarter valued at $28,000. G&S Capital LLC bought a new position in shares of HEXO during the second quarter worth about $30,000. Private Advisor Group LLC bought a new position in shares of HEXO during the second quarter worth about $58,000. US Bancorp DE bought a new position in shares of HEXO during the second quarter worth about $59,000. Finally, Flagship Harbor Advisors LLC grew its position in shares of HEXO by 9,094.0% during the second quarter. Flagship Harbor Advisors LLC now owns 13,791 shares of the company’s stock worth $73,000 after acquiring an additional 13,641 shares during the last quarter.
HEXO Company Profile
HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.
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