CannTrust (NYSE:CTST) Shares Gap Up to $1.98

CannTrust Holdings Inc (NYSE:CTST)’s share price gapped up prior to trading on Friday . The stock had previously closed at $1.93, but opened at $1.98. CannTrust shares last traded at $2.10, with a volume of 2,389,311 shares changing hands.

Several equities analysts recently commented on the company. Paradigm Capital reiterated a “buy” rating on shares of CannTrust in a research note on Thursday, May 23rd. Bloom Burton cut CannTrust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Roth Capital reaffirmed a “neutral” rating on shares of CannTrust in a research note on Tuesday, July 9th. Zacks Investment Research cut CannTrust from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Bank of America cut CannTrust from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $9.00 to $4.50 in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$7.25.

The firm’s 50 day moving average price is C$3.03. The company has a market capitalization of $280.13 million, a PE ratio of -19.09 and a beta of 3.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.64 and a quick ratio of 3.38.



Several large investors have recently made changes to their positions in CTST. ETF Managers Group LLC bought a new position in shares of CannTrust during the second quarter valued at about $44,447,000. JW Asset Management LLC bought a new stake in CannTrust in the 1st quarter worth approximately $10,863,000. Granite Point Capital Management L.P. bought a new stake in CannTrust in the 2nd quarter worth approximately $4,518,000. TD Asset Management Inc. bought a new stake in CannTrust in the 2nd quarter worth approximately $2,121,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of CannTrust during the 2nd quarter worth $1,460,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

About CannTrust (NYSE:CTST)

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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