HEXO (NASDAQ:HEXO) Earns “Market Perform” Rating from CIBC

CIBC reiterated their market perform rating on shares of HEXO (NASDAQ:HEXO) in a research report released on Tuesday, June 25th, FirstToMarketsRatingsTable reports.

A number of other research firms also recently weighed in on HEXO. Zacks Investment Research upgraded HEXO from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Jefferies Financial Group assumed coverage on HEXO in a research note on Monday, February 25th. They issued an underperform rating for the company. Bank of America set a $10.00 price objective on shares of HEXO and gave the company a buy rating in a report on Thursday, June 13th. Oppenheimer lowered shares of HEXO from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Finally, Desjardins started coverage on shares of HEXO in a research note on Thursday, April 25th. They set a buy rating and a $7.17 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. HEXO currently has a consensus rating of Hold and an average price target of $8.63.

NASDAQ:HEXO opened at $5.18 on Tuesday. HEXO has a 52-week low of $3.02 and a 52-week high of $8.40. The company’s fifty day simple moving average is $6.20.

A number of institutional investors and hedge funds have recently bought and sold shares of HEXO. FIL Ltd purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $4,691,000. Bank of Montreal Can purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $3,439,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $2,949,000. CIBC World Markets Inc. purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $1,676,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $1,572,000.

HEXO Company Profile

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: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for HEXO (NASDAQ:HEXO)

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