Hexo (TSE:HEXO) Shares Down 6.1%

Hexo Corp (TSE:HEXO) was down 6.1% during trading on Friday . The stock traded as low as C$2.06 and last traded at C$2.17, approximately 1,134,576 shares traded hands during mid-day trading. A decline of 73% from the average daily volume of 4,210,352 shares. The stock had previously closed at C$2.31.

Several research analysts recently commented on HEXO shares. MKM Partners reduced their price objective on Hexo from C$6.00 to C$5.00 in a research note on Tuesday, December 17th. Jefferies Financial Group cut their target price on Hexo from C$3.80 to C$1.90 in a research note on Thursday, January 2nd. Canaccord Genuity cut their target price on Hexo from C$2.75 to C$2.50 in a research note on Tuesday, December 17th. CIBC cut their target price on Hexo from C$2.50 to C$2.00 in a research note on Tuesday, December 17th. Finally, Cormark downgraded Hexo from a “market perform” rating to a “reduce” rating and cut their target price for the stock from C$3.25 to C$2.00 in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Hexo currently has an average rating of “Hold” and an average target price of C$6.39.

The firm has a market capitalization of $628.56 million and a PE ratio of -4.21. The company has a current ratio of 3.43, a quick ratio of 1.44 and a debt-to-equity ratio of 7.47. The business has a fifty day moving average price of C$2.45 and a two-hundred day moving average price of C$5.10.

In other Hexo news, Director Nathalie Bourque purchased 25,000 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of C$2.12 per share, for a total transaction of C$53,000.00. Following the acquisition, the director now owns 97,727 shares in the company, valued at approximately C$207,181.24.

Hexo Company Profile (TSE: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.

Further Reading: Asset Allocation, Balancing Your Investments

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