HEXO (NASDAQ:HEXO) Shares Down 5.8%

HEXO Corp. (NASDAQ:HEXO)’s share price traded down 5.8% during trading on Friday . The stock traded as low as $4.80 and last traded at $4.85, 5,811,206 shares traded hands during trading. An increase of 66% from the average session volume of 3,492,636 shares. The stock had previously closed at $5.15.

Several equities analysts have commented on the stock. AltaCorp Capital reissued an “outperform” rating on shares of HEXO in a research report on Thursday, April 4th. CIBC reissued a “market perform” rating on shares of HEXO in a research report on Tuesday, June 25th. Desjardins reissued a “buy” rating on shares of Horizons Enhcd Inc Eqy Cl E Unt Etf in a research report on Thursday, April 25th. Zacks Investment Research raised shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Oppenheimer set a $14.00 target price on shares of ADMA Biologics and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.63.

The firm has a fifty day moving average of $5.84.

HEXO (NASDAQ:HEXO) last posted its quarterly earnings results on Thursday, June 13th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $11.98 million during the quarter, compared to the consensus estimate of $10.96 million.

Several large investors have recently bought and sold shares of HEXO. Mycio Wealth Partners LLC bought a new stake in shares of HEXO in the 1st quarter worth approximately $343,000. Strategic Financial Services Inc bought a new stake in shares of HEXO in the 1st quarter worth approximately $66,000. Oppenheimer & Co. Inc. bought a new stake in shares of HEXO in the 1st quarter worth approximately $104,000. Creative Planning bought a new stake in shares of HEXO in the 1st quarter worth approximately $167,000. Finally, Bank of Montreal Can bought a new stake in shares of HEXO in the 1st quarter worth approximately $3,439,000.

HEXO Company Profile (NASDAQ: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.

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