MKM Partners Thinks Acreage Holdings’ Stock is Going to Recover
In a report released today, William Kirk from MKM Partners reiterated a Buy rating on Acreage Holdings (ACRGF), with a price target of $9.00. The company’s shares closed last Wednesday at $3.40, close to its 52-week low of $1.47.
According to TipRanks.com, Kirk is a 1-star analyst with an average return of -3.7% and a 42.0% success rate. Kirk covers the Consumer Goods sector, focusing on stocks such as Craft Brewers Alliance, Constellation Brands, and Molson Coors.
Acreage Holdings has an analyst consensus of Strong Buy, with a price target consensus of $8.05.
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The company has a one-year high of $20.37 and a one-year low of $1.47. Currently, Acreage Holdings has an average volume of 472.9K.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACRGF in relation to earlier this year.
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Acreage Holdings, Inc. engages in owning and operating cannabis licenses and assets in the U.S. with respect to the number of states with cannabis related licenses. It focuses on the cultivation, processing, and distribution operations. The company was founded by Kevin P. Murphy on July 12, 1989 and is headquartered in New York, NY.
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