Trulieve Cannabis (NYSE:TRLV) Stock Crosses Above 50 Day Moving Average – Here’s Why

Trulieve Cannabis Corp. (NYSE:TRLV)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $11.17 and traded as high as $11.55. Trulieve Cannabis shares last traded at $11.2450, with a volume of 1,164,140 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TRLV shares. Wall Street Zen cut shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of Trulieve Cannabis in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trulieve Cannabis currently has a consensus rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Stock Up 1.4%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.65 and a current ratio of 5.52. The stock has a market capitalization of $2.17 billion and a price-to-earnings ratio of 56.22. The firm’s 50 day moving average is $11.17.

Trulieve Cannabis (NYSE:TRLV) last announced its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $230.20 million for the quarter, compared to analyst estimates of $221.79 million. Trulieve Cannabis had a negative net margin of 41.22% and a negative return on equity of 0.34%. On average, analysts forecast that Trulieve Cannabis Corp. will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. HighTower Advisors LLC acquired a new stake in shares of Trulieve Cannabis during the third quarter worth $1,530,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Trulieve Cannabis in the third quarter valued at $1,164,000. JW Asset Management LLC purchased a new stake in shares of Trulieve Cannabis in the third quarter valued at $914,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Trulieve Cannabis in the third quarter valued at $770,000. Finally, Partners Wealth Management LLC acquired a new position in Trulieve Cannabis in the third quarter valued at $504,000.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a U.S. cannabis company that cultivates, processes and sells cannabis products through a vertically integrated business. Its offerings include flower, concentrates, vape products, edibles and other cannabis products, sold under brands such as Trulieve and Modern Flower. Founded in Florida in 2015, the company built its business in that state and expanded into other U.S. markets, including Arizona and Pennsylvania. Its operations and product offerings are shaped by the regulations in each state where it operates.