Sigma Planning Corp acquired a new stake in shares of HEXO Corp. (NASDAQ:HEXO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 71,948 shares of the company’s stock, valued at approximately $383,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of HEXO. FIL Ltd purchased a new position in HEXO during the first quarter valued at $4,691,000. TD Asset Management Inc. purchased a new position in HEXO during the second quarter valued at $3,707,000. Bank of Montreal Can purchased a new position in HEXO during the first quarter valued at $3,439,000. Intact Investment Management Inc. purchased a new position in HEXO during the second quarter valued at $2,486,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in HEXO during the first quarter valued at $2,949,000.

Shares of NASDAQ:HEXO traded down $0.04 during midday trading on Wednesday, hitting $4.19. The company’s stock had a trading volume of 418,931 shares, compared to its average volume of 3,577,316. The business’s 50 day moving average is $4.64. HEXO Corp. has a 12-month low of $3.02 and a 12-month high of $8.40.

HEXO (NASDAQ:HEXO) last posted its quarterly earnings results on Thursday, June 13th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $11.98 million during the quarter, compared to analysts’ expectations of $10.96 million.

Several research firms have issued reports on HEXO. Bank of America set a $10.00 price objective on shares of HEXO and gave the company a “buy” rating in a report on Thursday, June 13th. TheStreet downgraded shares of HEXO from a “c-” rating to a “d+” rating in a research note on Monday, July 22nd. Oppenheimer downgraded shares of HEXO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Desjardins assumed coverage on shares of HEXO in a research note on Thursday, April 25th. They issued a “buy” rating and a $7.17 price target on the stock. Finally, CIBC reissued a “market perform” rating on shares of HEXO in a research note on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. HEXO has a consensus rating of “Hold” and an average target price of $8.63.

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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Institutional Ownership by Quarter for HEXO (NASDAQ:HEXO)

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