Trulieve Cannabis’ (TRLV) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Trulieve Cannabis (NYSE:TRLV)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $15.00 price objective on the stock. Cantor Fitzgerald‘s price objective would indicate a potential upside of 33.51% from the stock’s previous close.

A number of other research analysts also recently commented on TRLV. Wall Street Zen downgraded shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Stock Up 9.3%

Shares of TRLV traded up $0.95 during trading on Monday, reaching $11.23. The company’s stock had a trading volume of 958,985 shares, compared to its average volume of 965,247. The company has a market cap of $2.16 billion and a P/E ratio of 101.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.98 and a current ratio of 5.94. The business’s fifty day moving average price is $11.19. Trulieve Cannabis has a twelve month low of $4.62 and a twelve month high of $13.28.

Trulieve Cannabis (NYSE:TRLV) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $271.00 million during the quarter, compared to analyst estimates of $268.82 million. Trulieve Cannabis had a negative net margin of 41.55% and a negative return on equity of 4.24%. As a group, equities analysts forecast that Trulieve Cannabis will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC bought a new stake in shares of Trulieve Cannabis during the 3rd quarter valued at about $770,000. Partners Wealth Management LLC acquired a new stake in Trulieve Cannabis during the third quarter worth about $504,000. Commonwealth Equity Services LLC bought a new position in Trulieve Cannabis in the third quarter worth about $242,000. Marion Wealth Management bought a new position in Trulieve Cannabis in the third quarter worth about $109,000. Finally, PFS Partners LLC acquired a new position in Trulieve Cannabis in the third quarter valued at approximately $33,000.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes and sells medical and adult-use cannabis products. Its offerings include flower, pre-rolls, concentrates, vaporizers, edibles, tinctures, capsules and topical products, sold through retail dispensaries and other approved channels under brands such as Trulieve, Cultivar Collection, Muse, Roll One and Alchemy.

Founded in 2015, Trulieve initially built its business around Florida’s medical cannabis market and later expanded into additional U.S.