Trulieve Cannabis (NYSE:TRLV) Trading Up 8.3% – Here’s What Happened

Shares of Trulieve Cannabis Corp. (NYSE:TRLV) shot up 8.3% during mid-day trading on Thursday . The stock traded as high as $9.74 and last traded at $9.8650. Approximately 663,856 shares were traded during mid-day trading, an increase of 3% from the average session volume of 647,423 shares. The stock had previously closed at $9.11.

Wall Street Analysts Forecast Growth

TRLV has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of Trulieve Cannabis in a research report on Friday, August 7th. Weiss Ratings started coverage on Trulieve Cannabis in a research note on Tuesday, June 16th. They set a “sell (d-)” rating on the stock. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trulieve Cannabis has an average rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Trading Up 6.7%

The stock has a 50 day simple moving average of $8.90.

Trulieve Cannabis (NYSE:TRLV) last announced its earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.82 million. Analysts expect that Trulieve Cannabis Corp. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kim A. Rivers sold 136,811 shares of Trulieve Cannabis stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.76, for a total value of $1,198,464.36. Following the transaction, the chief executive officer owned 1,476,913 shares of the company’s stock, valued at $12,937,757.88. The trade was a 8.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,699,007 shares of company stock worth $14,661,355 over the last 90 days. 3.79% of the stock is owned by company insiders.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.