Hexo Corp (TSE:HEXO) has received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$9.59.
HEXO has been the topic of several recent analyst reports. AltaCorp Capital reaffirmed an “outperform” rating on shares of HEXO in a report on Thursday, April 4th. Jefferies Financial Group increased their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. CIBC downgraded shares of Hexo from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$9.50 to C$8.50 in a report on Monday, June 17th. Bank of America reaffirmed a “buy” rating and set a C$10.00 price objective on shares of Hexo in a report on Wednesday, April 17th. Finally, Desjardins set a C$14.00 price objective on shares of Hexo and gave the company a “buy” rating in a report on Friday, April 26th.
HEXO traded up C$0.08 during midday trading on Wednesday, hitting C$6.66. 955,992 shares of the company traded hands, compared to its average volume of 3,046,415. The company has a debt-to-equity ratio of 7.80, a current ratio of 5.62 and a quick ratio of 4.05. The stock has a market cap of $1.62 billion and a P/E ratio of -37.42. Hexo has a 52-week low of C$3.98 and a 52-week high of C$11.29. The stock’s 50 day moving average price is C$7.49.
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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