HEXO Corp. (NASDAQ:HEXO) Given Average Rating of “Hold” by Brokerages
Shares of HEXO Corp. (NASDAQ:HEXO) have been assigned an average rating of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.72.
Several research analysts recently commented on HEXO shares. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Bank of America set a $10.00 target price on shares of HEXO and gave the stock a “buy” rating in a report on Thursday, June 13th. Desjardins started coverage on shares of HEXO in a report on Thursday, April 25th. They issued a “buy” rating and a $7.17 target price on the stock. CIBC reiterated a “market perform” rating on shares of HEXO in a report on Tuesday, June 25th. Finally, Oppenheimer downgraded shares of HEXO from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th.
Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of HEXO by 21.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,194 shares of the company’s stock worth $103,000 after purchasing an additional 3,355 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of HEXO by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 74,735 shares of the company’s stock worth $397,000 after purchasing an additional 3,935 shares during the period. TCG Advisors LP bought a new position in shares of HEXO during the 1st quarter worth about $28,000. G&S Capital LLC bought a new position in shares of HEXO during the 2nd quarter worth about $30,000. Finally, Advisor Group Inc. increased its holdings in shares of HEXO by 69.9% during the 2nd quarter. Advisor Group Inc. now owns 14,395 shares of the company’s stock worth $77,000 after purchasing an additional 5,921 shares during the period.
HEXO (NASDAQ:HEXO) last announced its earnings results on Thursday, June 13th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $11.98 million during the quarter, compared to the consensus estimate of $10.96 million.
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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