HEXO Corp. (HEXO) Given Average Recommendation of “Buy” by Brokerages

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Shares of HEXO Corp. (NASDAQ:HEXO) have been given an average recommendation of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.29.

Several analysts have recently weighed in on the company. Bank of America assumed coverage on HEXO in a report on Wednesday, April 17th. They set a “buy” rating on the stock. AltaCorp Capital reissued an “outperform” rating on shares of HEXO in a report on Thursday, April 4th. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Seaport Global Securities assumed coverage on HEXO in a report on Thursday, February 21st. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Oppenheimer assumed coverage on HEXO in a report on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price objective on the stock.

Shares of NASDAQ:HEXO traded down $0.27 during trading on Friday, hitting $7.10. 5,832,657 shares of the stock were exchanged, compared to its average volume of 3,435,578. HEXO has a 1-year low of $3.02 and a 1-year high of $8.40.

HEXO (NASDAQ:HEXO) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $10.09 million for the quarter, compared to analyst estimates of $10.01 million.

Large investors have recently made changes to their positions in the company. Advisor Group Inc. acquired a new stake in shares of HEXO during the 1st quarter worth approximately $56,000. Strategic Financial Services Inc acquired a new stake in HEXO in the 1st quarter valued at $66,000. Sheaff Brock Investment Advisors LLC acquired a new stake in HEXO in the 1st quarter valued at $73,000. National Asset Management Inc. acquired a new stake in HEXO in the 1st quarter valued at $79,000. Finally, Raymond James & Associates acquired a new stake in HEXO in the 1st quarter valued at $79,000.

HEXO Company Profile

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.

See Also: Earnings Per Share (EPS)

Analyst Recommendations for HEXO (NASDAQ:HEXO)

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