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.

See today’s analyst top recommended stocks >>

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.

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.

Read More on HEXO:

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts