HEXO Corp. (HEXO) Receives $8.67 Consensus PT from Analysts

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HEXO Corp. (NASDAQ:HEXO) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $8.67.

Several equities analysts have issued reports on HEXO shares. Zacks Investment Research raised HEXO from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group started coverage on HEXO in a research note on Monday, February 25th. They issued an “underperform” rating on the stock. Oppenheimer started coverage on HEXO in a research note on Tuesday, February 19th. They issued an “outperform” rating and a $7.00 price target on the stock. Bank of America started coverage on HEXO in a research note on Wednesday, April 17th. They issued a “buy” rating on the stock. Finally, Seaport Global Securities started coverage on HEXO in a research note on Thursday, February 21st. They issued a “buy” rating and a $12.00 price target on the stock.

Shares of HEXO stock traded down $0.09 during midday trading on Tuesday, reaching $7.00. The company had a trading volume of 5,145,987 shares, compared to its average volume of 2,817,704. HEXO has a fifty-two week low of $3.02 and a fifty-two week high of $7.33.

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

A hedge fund recently bought a new stake in HEXO stock. Strategic Financial Services Inc purchased a new stake in HEXO Corp. (NASDAQ:HEXO) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $66,000.

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.

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Analyst Recommendations for HEXO (NASDAQ:HEXO)

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