HEXO (HEXO) Gets a Hold Rating from Canaccord Genuity

Canaccord Genuity analyst Matt Bottomley maintained a Hold rating on HEXO (HEXO) yesterday and set a price target of C$1.50. The company’s shares closed last Thursday at $0.95, close to its 52-week low of $0.35.

According to TipRanks.com, Bottomley is a 3-star analyst with an average return of 1.7% and a 46.5% success rate. Bottomley covers the Industrial Goods sector, focusing on stocks such as The Supreme Cannabis Company, Harvest Health & Recreation, and Vireo Health International.

HEXO has an analyst consensus of Moderate Sell, with a price target consensus of $0.81, implying a -30.8% downside from current levels. In a report released yesterday, Oppenheimer also assigned a Hold rating to the stock.

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Based on HEXO’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $17.01 million and GAAP net loss of $298 million. In comparison, last year the company earned revenue of $13.44 million and had a GAAP net loss of $4.33 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HEXO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

HEXO Corp. engages in the manufacture, production, and distribution of medicinal marijuana. It offers products through the Time of Day, H2, Decarb, and Exlixir No. 1 brands. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.

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