Bloom Burton Lowers CannTrust (NYSE:CTST) to Hold

Bloom Burton cut shares of CannTrust (NYSE:CTST) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

Several other equities research analysts also recently weighed in on CTST. Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Bank of America reiterated a sell rating on shares of Deutsche Bank in a research note on Monday, July 8th. Roth Capital assumed coverage on shares of Electrameccanica Vehicles in a research note on Tuesday. They set a buy rating for the company. BMO Capital Markets upgraded shares of Tourmaline Oil from a market perform rating to an outperform rating in a research note on Thursday, May 30th. Finally, Citigroup set a $95.00 target price on shares of iRobot and gave the stock a hold rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of C$7.94.

Shares of CTST opened at C$2.58 on Wednesday. CannTrust has a fifty-two week low of C$2.50 and a fifty-two week high of C$11.97. The firm has a market capitalization of $364.36 million, a P/E ratio of -23.45 and a beta of 3.49. The business’s 50-day simple moving average is C$5.01. The company has a quick ratio of 3.38, a current ratio of 5.64 and a debt-to-equity ratio of 0.01.

CannTrust (NYSE:CTST) last announced its earnings results on Tuesday, May 14th. The company reported C$0.09 earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.14. CannTrust had a negative net margin of 22.33% and a negative return on equity of 6.69%. The business had revenue of C$16.85 million during the quarter, compared to the consensus estimate of C$17.00 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 114.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CannTrust will post -0.03 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new stake in CannTrust in the first quarter valued at about $26,000. Shell Asset Management Co. purchased a new position in CannTrust in the first quarter valued at about $41,000. Paragon Capital Management LLC purchased a new position in CannTrust in the first quarter valued at about $54,000. Winslow Evans & Crocker Inc. purchased a new position in CannTrust in the first quarter valued at about $56,000. Finally, K.J. Harrison & Partners Inc purchased a new position in CannTrust in the first quarter valued at about $100,000. Hedge funds and other institutional investors own 5.96% of the company’s stock.

About CannTrust

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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Analyst Recommendations for CannTrust (NYSE:CTST)

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