Trulieve Cannabis (NYSE:TRLV) Stock Price Down 4.6% – Here’s What Happened

Shares of Trulieve Cannabis Corp. (NYSE:TRLV) traded down 4.6% during trading on Monday. The company traded as low as $11.01 and last traded at $11.0320. 426,238 shares traded hands during trading, a decline of 56% from the average session volume of 978,956 shares. The stock had previously closed at $11.56.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. Wall Street Zen lowered Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a research note on Monday, November 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Trading Up 0.3%

The company has a quick ratio of 3.65, a current ratio of 5.52 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.13 billion and a P/E ratio of 55.22. The stock’s fifty day moving average price is $11.18.

Trulieve Cannabis (NYSE:TRLV) last posted its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Trulieve Cannabis had a negative return on equity of 0.34% and a negative net margin of 41.22%. The company had revenue of $230.20 million during the quarter, compared to analysts’ expectations of $221.79 million. As a group, analysts forecast that Trulieve Cannabis Corp. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TRLV. Landscape Capital Management L.L.C. acquired a new stake in shares of Trulieve Cannabis during the third quarter valued at about $1,164,000. HighTower Advisors LLC purchased a new stake in shares of Trulieve Cannabis in the 3rd quarter valued at approximately $1,530,000. JW Asset Management LLC acquired a new position in shares of Trulieve Cannabis in the 3rd quarter worth approximately $914,000. StoneX Group Inc. acquired a new position in shares of Trulieve Cannabis in the 3rd quarter worth approximately $341,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth approximately $242,000.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a U.S. cannabis company that cultivates, processes and sells cannabis products through a vertically integrated business. Its offerings include flower, concentrates, vape products, edibles and other cannabis products, sold under brands such as Trulieve and Modern Flower. Founded in Florida in 2015, the company built its business in that state and expanded into other U.S. markets, including Arizona and Pennsylvania. Its operations and product offerings are shaped by the regulations in each state where it operates.