ValuEngine Upgrades CannTrust (NYSE:CTST) to “Buy”

ValuEngine upgraded shares of CannTrust (NYSE:CTST) from a hold rating to a buy rating in a research note published on Wednesday, ValuEngine reports.

Several other research firms have also recently weighed in on CTST. Citigroup initiated coverage on CannTrust in a report on Wednesday, July 3rd. They set a buy rating and a $7.00 price objective on the stock. Bloom Burton cut CannTrust from a buy rating to a hold rating in a report on Wednesday, July 10th. Eight Capital cut CannTrust from a buy rating to a neutral rating in a report on Monday, July 8th. Zacks Investment Research cut CannTrust from a buy rating to a hold rating in a report on Friday, August 9th. Finally, Bank of America cut CannTrust from a buy rating to an underperform rating and cut their price objective for the company from $9.00 to $4.50 in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. CannTrust presently has a consensus rating of Hold and a consensus price target of C$4.13.

Shares of NYSE:CTST traded down C$0.02 during trading on Wednesday, hitting C$1.09. 934,332 shares of the company’s stock traded hands, compared to its average volume of 2,707,124. CannTrust has a 52 week low of C$1.05 and a 52 week high of C$11.97. The company has a current ratio of 5.64, a quick ratio of 3.38 and a debt-to-equity ratio of 0.01. The company has a market cap of $157.04 million, a price-to-earnings ratio of -9.91 and a beta of 3.45. The company has a 50-day moving average price of C$1.58 and a 200-day moving average price of C$4.49.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC bought a new stake in CannTrust in the 2nd quarter valued at approximately $44,447,000. JW Asset Management LLC bought a new stake in CannTrust in the 1st quarter valued at approximately $10,863,000. Morgan Stanley lifted its stake in CannTrust by 17.0% in the 2nd quarter. Morgan Stanley now owns 1,266,411 shares of the company’s stock valued at $6,357,000 after acquiring an additional 184,341 shares in the last quarter. Granite Point Capital Management L.P. bought a new stake in CannTrust in the 2nd quarter valued at approximately $4,518,000. Finally, Davis Rea LTD. lifted its stake in CannTrust by 7.4% in the 2nd quarter. Davis Rea LTD. now owns 532,785 shares of the company’s stock valued at $2,669,000 after acquiring an additional 36,650 shares in the last quarter. Hedge funds and other institutional investors own 20.71% of the company’s stock.

About CannTrust

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.

See Also: How does the Federal Reserve determine interest rates?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CannTrust (NYSE:CTST)

Receive News & Ratings for CannTrust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CannTrust and related companies with MarketBeat.com's FREE daily email newsletter.