Trulieve Cannabis (NYSE:TRLV) Shares Down 5% – Here’s Why

Trulieve Cannabis Corp. (NYSE:TRLV)’s stock price traded down 5% during trading on Friday . The company traded as low as $11.42 and last traded at $11.07. 121,247 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 764,057 shares. The stock had previously closed at $11.65.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRLV. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised shares of 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 report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Price Performance

The business’s fifty day moving average is $9.99.

Trulieve Cannabis (NYSE:TRLV) last issued its earnings results on Friday, August 7th. The company reported $0.11 EPS 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 analyst estimates of $268.82 million. As a group, equities research analysts predict that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current year.

Insider Activity at Trulieve Cannabis

In other news, CEO Kim Rivers sold 400,000 shares of Trulieve Cannabis 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 sale, the chief executive officer directly owned 1,913,724 shares in the company, valued at approximately $15,635,125.08. The trade was a 17.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,421,626 shares of company stock worth $12,051,085. 3.79% of the stock is currently owned by company insiders.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes, manufactures and sells medical and adult-use cannabis products. Its product portfolio includes flower, pre-rolls, concentrates, edibles, tinctures, capsules and topical products, marketed under the Trulieve brand and other affiliated brands.

The company sells its products through a network of company-operated dispensaries and, where permitted, through wholesale and other distribution channels.