MKM Partners Sticks to Their Hold Rating for HEXO (HEXO)
MKM Partners analyst William Kirk reiterated a Hold rating on HEXO (HEXO) today and set a price target of C$1.00. The company’s shares closed last Monday at $0.79, close to its 52-week low of $0.35.
According to TipRanks.com, Kirk is ranked #5106 out of 6216 analysts.
HEXO has an analyst consensus of Moderate Sell, with a price target consensus of $1.16, implying a 24.7% upside from current levels. In a report issued on March 17, Oppenheimer also maintained a Hold rating on the stock.
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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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