CannTrust (NYSE:CTST) Stock Rating Lowered by Bank of America

Bank of America cut shares of CannTrust (NYSE:CTST) from a buy rating to an underperform rating in a research note published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $4.50 target price on the stock, down from their prior target price of $9.00.

CTST has been the subject of a number of other reports. Citigroup set a $95.00 price target on iRobot and gave the company a hold rating in a research report on Wednesday, July 3rd. Bloom Burton raised CannTrust from an accumulate rating to a buy rating in a research report on Wednesday, May 15th. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BMO Capital Markets raised Tourmaline Oil from a market perform rating to an outperform rating in a research report on Thursday, May 30th. Finally, Paradigm Capital reaffirmed a buy rating on shares of CannTrust in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of C$7.94.

Shares of CannTrust stock opened at C$3.11 on Monday. The stock has a market capitalization of $697.64 million, a P/E ratio of -28.27 and a beta of 3.51. CannTrust has a 52 week low of C$2.69 and a 52 week high of C$11.97. The business has a 50 day moving average of C$5.07. The company has a current ratio of 5.64, a quick ratio of 3.38 and a debt-to-equity ratio of 0.01.

CannTrust (NYSE:CTST) last issued its quarterly earnings data on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.14. The firm had revenue of C$16.85 million during the quarter, compared to the consensus estimate of C$17.00 million. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. The company’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of CTST. JW Asset Management LLC bought a new position in CannTrust during the first quarter valued at $10,863,000. Davis Rea LTD. grew its holdings in CannTrust by 7.4% during the second quarter. Davis Rea LTD. now owns 532,785 shares of the company’s stock valued at $2,669,000 after purchasing an additional 36,650 shares during the period. Toronto Dominion Bank bought a new position in CannTrust during the first quarter valued at $2,025,000. Legacy Advisors LLC bought a new position in CannTrust during the first quarter valued at $1,555,000. Finally, CIBC Asset Management Inc bought a new position in CannTrust during the first quarter valued at $1,182,000. 5.96% of the stock is owned by institutional investors.

About CannTrust

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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Analyst Recommendations for CannTrust (NYSE:CTST)

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