Hexo (TSE:HEXO) had its price objective lowered by equities researchers at CIBC from C$7.50 to C$4.00 in a research note issued on Monday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 15.94% from the company’s previous close.
Separately, Jefferies Financial Group upgraded shares of Hexo from an “underperform” rating to a “hold” rating and decreased their target price for the company from C$7.70 to C$3.80 in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Hexo has an average rating of “Buy” and an average price target of C$8.54.
Shares of HEXO stock traded down C$0.15 on Monday, hitting C$3.45. The stock had a trading volume of 3,569,581 shares, compared to its average volume of 2,732,033. The stock has a market capitalization of $874.72 million and a price-to-earnings ratio of -19.38. The business has a 50 day simple moving average of C$5.74. The company has a debt-to-equity ratio of 7.80, a current ratio of 5.62 and a quick ratio of 4.05. Hexo has a 52-week low of C$3.07 and a 52-week high of C$11.29.
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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