Shares of HEXO Corp. (NASDAQ:HEXO) gapped down before the market opened on Wednesday . The stock had previously closed at $1.46, but opened at $1.47. HEXO shares last traded at $1.44, with a volume of 2,143,524 shares changing hands.
Several equities analysts have recently issued reports on HEXO shares. Pi Financial cut HEXO to a “sell” rating and set a $2.00 price target on the stock. in a research report on Monday, December 16th. Eight Capital cut HEXO from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 30th. Roth Capital lowered their price target on HEXO from to and set a “neutral” rating on the stock in a research report on Friday, January 17th. AltaCorp Capital cut HEXO from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity cut HEXO from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.19.
The firm has a 50 day moving average price of $1.43 and a two-hundred day moving average price of $2.67.
HEXO (NASDAQ:HEXO) last released its quarterly earnings data on Monday, December 16th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $10.95 million during the quarter, compared to analyst estimates of $11.78 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signition LP boosted its stake in shares of HEXO by 56.1% during the 3rd quarter. Signition LP now owns 49,000 shares of the company’s stock worth $194,000 after acquiring an additional 17,600 shares in the last quarter. CLARET ASSET MANAGEMENT Corp boosted its position in shares of HEXO by 54.6% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 73,640 shares of the company’s stock worth $117,000 after buying an additional 26,000 shares during the period. Barclays PLC acquired a new stake in shares of HEXO in the third quarter worth $3,213,000. Tower Research Capital LLC TRC boosted its position in shares of HEXO by 90.9% in the third quarter. Tower Research Capital LLC TRC now owns 36,640 shares of the company’s stock worth $144,000 after buying an additional 17,446 shares during the period. Finally, AdvisorShares Investments LLC acquired a new stake in shares of HEXO in the fourth quarter worth $438,000.
About HEXO (NASDAQ: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.
