Trulieve Cannabis (NYSE:TRLV) Shares Up 4.7% – Still a Buy?

Trulieve Cannabis Corp. (NYSE:TRLV) shares were up 4.7% on Tuesday . The stock traded as high as $11.99 and last traded at $12.05. Approximately 137,826 shares changed hands during trading, a decline of 80% from the average daily volume of 691,962 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

TRLV has been the topic of a number of research reports. Zacks Research upgraded Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Trulieve Cannabis in a research note on Friday, August 7th. Weiss Ratings assumed coverage on Trulieve Cannabis in a research report on Tuesday, June 16th. They set a “sell (d-)” rating on the stock. Finally, Wall Street Zen cut shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Trading Up 0.9%

The business has a 50-day moving average of $9.42.

Trulieve Cannabis (NYSE:TRLV) last posted its 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. The firm had revenue of $271.00 million during the quarter, compared to the consensus estimate of $268.82 million. Equities analysts predict that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current year.

Insider Activity at Trulieve Cannabis

In related news, CEO Kim A. Rivers sold 136,811 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $8.76, for a total value of $1,198,464.36. Following the transaction, the chief executive officer directly owned 1,476,913 shares of the company’s stock, valued at approximately $12,937,757.88. This trade represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,699,007 shares of company stock valued at $14,661,355. Corporate insiders own 3.79% of the company’s stock.

About Trulieve Cannabis

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.