Hexo (TSE:HEXO) Stock Price Down 3.6%

Hexo Corp (TSE:HEXO)’s stock price was down 3.6% on Friday . The company traded as low as C$1.88 and last traded at C$1.90, approximately 671,544 shares changed hands during mid-day trading. A decline of 83% from the average daily volume of 3,883,146 shares. The stock had previously closed at C$1.97.

A number of analysts have recently weighed in on HEXO shares. Jefferies Financial Group cut their price objective on shares of Hexo from C$3.80 to C$1.90 in a research note on Thursday, January 2nd. MKM Partners cut their price objective on shares of Hexo from C$6.00 to C$5.00 in a research note on Tuesday, December 17th. CIBC cut their price objective on shares of Hexo from C$2.50 to C$2.00 in a research note on Tuesday, December 17th. Cormark lowered shares of Hexo from a “market perform” rating to a “reduce” rating and cut their price objective for the stock from C$3.25 to C$2.00 in a research note on Wednesday, December 18th. Finally, Canaccord Genuity cut their price objective on shares of Hexo from C$2.75 to C$2.50 in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Hexo presently has an average rating of “Hold” and a consensus price target of C$6.39.

The stock’s fifty day moving average is C$2.34 and its 200-day moving average is C$4.84. The stock has a market capitalization of $536.05 million and a PE ratio of -3.66. The company has a debt-to-equity ratio of 7.47, a current ratio of 3.43 and a quick ratio of 1.44.

In other Hexo news, Director Nathalie Bourque bought 25,000 shares of Hexo stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of C$2.12 per share, for a total transaction of C$53,000.00. Following the completion of the transaction, the director now directly owns 97,727 shares of the company’s stock, valued at C$207,181.24.

About Hexo (TSE: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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