Cantor Fitzgerald Reiterates Overweight Rating for Trulieve Cannabis (NYSE:TRLV)

Trulieve Cannabis (NYSE:TRLV)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They currently have a $15.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 74.72% from the company’s previous close.

TRLV has been the subject of a number of other research reports. Weiss Ratings assumed coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Zacks Research raised Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Finally, Wall Street Zen lowered Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Trading Down 4.6%

Trulieve Cannabis stock traded down $0.41 during mid-day trading on Friday, hitting $8.59. The stock had a trading volume of 711,449 shares, compared to its average volume of 646,091. Trulieve Cannabis has a 12 month low of $4.62 and a 12 month high of $13.28.

Trulieve Cannabis (NYSE:TRLV) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Equities research analysts forecast that Trulieve Cannabis will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kim A. Rivers sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.17, for a total transaction of $3,268,000.00. Following the completion of the sale, the chief executive officer owned 1,913,724 shares in the company, valued at approximately $15,635,125.08. This trade represents a 17.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,699,007 shares of company stock valued at $14,661,355 over the last 90 days. 3.79% of the stock is currently owned by insiders.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.