HEXO (NASDAQ:HEXO) Stock Price Down 5.8%

HEXO Corp. (NASDAQ:HEXO)’s share price fell 5.8% on Friday . The stock traded as low as $4.80 and last traded at $4.85, 5,811,206 shares changed hands during trading. An increase of 66% from the average session volume of 3,492,636 shares. The stock had previously closed at $5.15.

A number of analysts have recently commented on HEXO shares. Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Bank of America set a $10.00 price objective on HEXO and gave the stock a “buy” rating in a research report on Thursday, June 13th. CIBC restated a “market perform” rating on shares of HEXO in a research report on Tuesday, June 25th. Oppenheimer set a $14.00 price target on ADMA Biologics and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of HEXO in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.63.

The company’s 50 day moving average is $5.84.

HEXO (NASDAQ:HEXO) last released its earnings results on Thursday, June 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $11.98 million during the quarter, compared to analysts’ expectations of $10.96 million.

Several institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC purchased a new stake in HEXO during the 1st quarter worth about $343,000. Strategic Financial Services Inc purchased a new stake in HEXO in the 1st quarter valued at approximately $66,000. Oppenheimer & Co. Inc. purchased a new stake in HEXO in the 1st quarter valued at approximately $104,000. Creative Planning purchased a new stake in HEXO in the 1st quarter valued at approximately $167,000. Finally, Bank of Montreal Can purchased a new stake in shares of HEXO during the 1st quarter worth approximately $3,439,000.

About HEXO (NASDAQ:HEXO)

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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