HEXO (HEXO) Now Covered by Analysts at Desjardins

Desjardins started coverage on shares of HEXO (NASDAQ:HEXO) in a report published on Thursday, Benzinga reports. The firm issued a buy rating and a $7.17 target price on the stock.

Other equities analysts have also recently issued reports about the stock. CIBC assumed coverage on shares of HEXO in a research note on Tuesday, February 19th. They set an outperform rating and a $7.00 price target on the stock. Oppenheimer assumed coverage on shares of HEXO in a research note on Tuesday, February 19th. They set an outperform rating and a $7.00 price target on the stock. Seaport Global Securities assumed coverage on shares of HEXO in a research note on Thursday, February 21st. They set a buy rating and a $12.00 price target on the stock. Beacon Securities reaffirmed a buy rating on shares of HEXO in a research note on Tuesday, February 19th. Finally, Jefferies Financial Group assumed coverage on shares of HEXO in a research note on Monday, February 25th. They set an underperform rating on the stock. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $8.29.

HEXO traded up $0.64 during trading on Thursday, hitting $7.81. The stock had a trading volume of 13,908,956 shares, compared to its average volume of 3,004,676. HEXO has a twelve month low of $3.02 and a twelve month high of $7.81.

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

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Financial Services Inc purchased a new stake in shares of HEXO in the 1st quarter worth about $66,000. Oppenheimer & Co. Inc. purchased a new stake in shares of HEXO in the 1st quarter worth about $104,000. Creative Planning purchased a new stake in shares of HEXO in the 1st quarter worth about $167,000. Mycio Wealth Partners LLC purchased a new stake in shares of HEXO in the 1st quarter worth about $343,000. Finally, Bank of Montreal Can purchased a new stake in shares of HEXO in the 1st quarter worth about $3,439,000.

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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