HEXO Corp. (NASDAQ:HEXO) Given Average Rating of “Hold” by Analysts

Shares of HEXO Corp. (NASDAQ:HEXO) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.73.

HEXO has been the topic of a number of recent research reports. Beacon Securities cut shares of HEXO from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Cantor Fitzgerald initiated coverage on shares of HEXO in a research report on Tuesday, November 5th. They set an “underweight” rating on the stock. Eight Capital cut shares of HEXO from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 30th. AltaCorp Capital cut shares of HEXO from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 29th. Finally, Roth Capital reduced their price target on shares of HEXO from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th.

HEXO stock traded down $0.03 during midday trading on Wednesday, reaching $2.13. 2,716,996 shares of the company’s stock traded hands, compared to its average volume of 3,920,485. HEXO has a fifty-two week low of $1.56 and a fifty-two week high of $8.40. The business has a 50-day moving average price of $2.24 and a two-hundred day moving average price of $4.21.

HEXO (NASDAQ:HEXO) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The business had revenue of $11.79 million for the quarter, compared to analysts’ expectations of $11.31 million.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of HEXO by 21.2% during the second quarter. Tower Research Capital LLC TRC now owns 19,194 shares of the company’s stock valued at $103,000 after purchasing an additional 3,355 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of HEXO by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 74,735 shares of the company’s stock valued at $397,000 after purchasing an additional 3,935 shares during the period. G&S Capital LLC purchased a new stake in shares of HEXO during the second quarter valued at approximately $30,000. Advisor Group Inc. raised its stake in shares of HEXO by 69.9% during the second quarter. Advisor Group Inc. now owns 14,395 shares of the company’s stock valued at $77,000 after purchasing an additional 5,921 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of HEXO by 54.0% during the second quarter. Oppenheimer & Co. Inc. now owns 24,100 shares of the company’s stock valued at $128,000 after purchasing an additional 8,450 shares during the period.

About HEXO

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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Analyst Recommendations for HEXO (NASDAQ:HEXO)

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