HEXO (NASDAQ:HEXO) Shares Gap Down to $4.59

HEXO Corp. (NASDAQ:HEXO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.39, but opened at $4.59. HEXO shares last traded at $4.27, with a volume of 145,104 shares trading hands.

A number of brokerages have commented on HEXO. Bank of America set a $10.00 price objective on shares of HEXO and gave the stock a “buy” rating in a report on Thursday, June 13th. CIBC reiterated a “market perform” rating on shares of HEXO in a report on Tuesday, June 25th. Desjardins began coverage on shares of HEXO in a report on Thursday, April 25th. They issued a “buy” rating and a $7.17 price objective on the stock. Oppenheimer lowered shares of HEXO from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. HEXO has a consensus rating of “Hold” and a consensus price target of $8.63.

The business has a fifty day simple moving average of $4.74.



HEXO (NASDAQ:HEXO) last issued its quarterly earnings data on Thursday, June 13th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $11.98 million during the quarter, compared to analyst estimates of $10.96 million.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HEXO. Mycio Wealth Partners LLC bought a new stake in shares of HEXO in the 1st quarter worth about $343,000. Strategic Financial Services Inc bought a new stake in shares of HEXO in the 1st quarter worth about $66,000. Oppenheimer & Co. Inc. bought a new stake in shares of HEXO in the 1st quarter worth about $104,000. Creative Planning bought a new stake in shares of HEXO in the 1st quarter worth about $167,000. Finally, Bank of Montreal Can bought a new stake in shares of HEXO in the 1st quarter worth about $3,439,000.

HEXO Company Profile (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.

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