HEXO Corp. (NYSE:HEXO) Position Reduced by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its holdings in HEXO Corp. (NYSE:HEXO) by 26.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 237,800 shares of the company’s stock after selling 87,700 shares during the quarter. Intact Investment Management Inc. owned 0.16% of HEXO worth $1,693,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in HEXO by 7.4% in the first quarter. Commonwealth Equity Services LLC now owns 23,537 shares of the company’s stock worth $152,000 after buying an additional 1,620 shares during the last quarter. AdvisorShares Investments LLC grew its position in HEXO by 9.0% during the 1st quarter. AdvisorShares Investments LLC now owns 61,544 shares of the company’s stock worth $399,000 after purchasing an additional 5,086 shares in the last quarter. North Star Investment Management Corp. grew its position in HEXO by 246.4% during the 2nd quarter. North Star Investment Management Corp. now owns 8,660 shares of the company’s stock worth $50,000 after purchasing an additional 6,160 shares in the last quarter. Quantbot Technologies LP purchased a new position in HEXO during the 1st quarter worth approximately $42,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in HEXO by 67.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 20,416 shares of the company’s stock worth $118,000 after purchasing an additional 8,246 shares in the last quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Shares of NYSE:HEXO opened at $1.91 on Monday. The firm has a fifty day moving average of $3.03 and a two-hundred day moving average of $5.09. The firm has a market capitalization of $291.70 million, a P/E ratio of -1.26 and a beta of 1.01. HEXO Corp. has a 12-month low of $1.86 and a 12-month high of $11.04. The company has a quick ratio of 2.11, a current ratio of 3.61 and a debt-to-equity ratio of 0.10.

Several equities analysts have weighed in on HEXO shares. Desjardins lowered their price objective on shares of HEXO from C$8.00 to C$7.50 and set a “hold” rating on the stock in a research report on Wednesday, June 16th. Atb Cap Markets reiterated an “underperform” rating on shares of HEXO in a research report on Friday, July 23rd. Alliance Global Partners lowered their price objective on shares of HEXO from C$12.00 to C$7.25 and set a “buy” rating on the stock in a research report on Wednesday, September 1st. CIBC reiterated a “buy” rating on shares of HEXO in a research report on Friday. Finally, Zacks Investment Research raised shares of HEXO from a “sell” rating to a “hold” rating in a research note on Friday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.99.

About HEXO

HEXO Corp. is a consumer packaged goods cannabis company, which creates and distributes products to serve the global cannabis market. It serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. The company was founded by S├ębastien St.

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Institutional Ownership by Quarter for HEXO (NYSE:HEXO)

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