HEXO (HEXO) Gets a Hold Rating from Oppenheimer
In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on HEXO (HEXO). The company’s shares closed last Monday at $0.94, close to its 52-week low of $0.35.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 13.5% and a 58.5% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Sprouts Farmers, and Dollar General.
Currently, the analyst consensus on HEXO is a Moderate Sell with an average price target of $1.20, implying a 29.0% upside from current levels. In a report issued on March 16, MKM Partners also maintained a Hold rating on the stock with a C$1.00 price target.
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Based on HEXO’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $14.5 million and GAAP net loss of $60.02 million. In comparison, last year the company earned revenue of $5.66 million and had a GAAP net loss of $12.8 million.
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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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