HEXO (HEXO) Downgraded by Zacks Investment Research

HEXO (NASDAQ:HEXO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “HEXO Corp. is a consumer-packaged goods cannabis company. It creates and distributes products to serve the global cannabis market. HEXO Corp. is based in GATINEAU, Quebec. “

A number of other equities analysts have also issued reports on the stock. AltaCorp Capital reiterated an “outperform” rating on shares of HEXO in a research report on Thursday, April 4th. Seaport Global Securities began coverage on shares of HEXO in a research report on Thursday, February 21st. They issued a “buy” rating and a $12.00 target price for the company. Oppenheimer began coverage on shares of HEXO in a research report on Tuesday, February 19th. They issued an “outperform” rating and a $7.00 target price for the company. Bank of America began coverage on shares of HEXO in a research report on Wednesday. They issued a “buy” rating for the company. Finally, Jefferies Financial Group began coverage on shares of HEXO in a research report on Monday, February 25th. They issued an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and six have given a buy rating to the stock. HEXO presently has a consensus rating of “Buy” and an average target price of $8.67.

Shares of HEXO stock traded up $0.11 during trading on Friday, hitting $6.76. 10,637,537 shares of the stock were exchanged, compared to its average volume of 2,694,526. HEXO has a 12 month low of $3.02 and a 12 month high of $7.33.

HEXO (NASDAQ:HEXO) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $10.09 million for the quarter, compared to the consensus estimate of $10.01 million.

An institutional investor recently bought a new position in HEXO stock. Mycio Wealth Partners LLC bought a new stake in HEXO Corp. (NASDAQ:HEXO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 51,790 shares of the company’s stock, valued at approximately $343,000.

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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