Northland Securities Believes Planet 13 Holdings (PLNHF) Won’t Stop Here


In a report released today, Greg Gibas from Northland Securities maintained a Buy rating on Planet 13 Holdings (PLNHF), with a price target of $5.50. The company’s shares closed last Tuesday at $4.22, close to its 52-week high of $4.26.

According to TipRanks.com, Gibas is a 5-star analyst with an average return of 43.3% and a 67.5% success rate. Gibas covers the Financial sector, focusing on stocks such as Accel Entertainment, AYR Strategies, and KLDiscovery.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Planet 13 Holdings with a $4.67 average price target, a 21.3% upside from current levels. In a report issued on November 20, Canaccord Genuity also maintained a Buy rating on the stock with a C$6.00 price target.

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Based on Planet 13 Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.76 million and GAAP net loss of $3.99 million. In comparison, last year the company earned revenue of $16.52 million and had a GAAP net loss of $935.5K.

Based on the recent corporate insider activity of 28 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 PLNHF 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.

Planet 13 Holdings Inc operate as an integrated cannabis company based in Nevada, with cultivation, production and dispensary operations in Las Vegas. The company is focused on providing an unparalleled dispensary experience and optimizing cultivation efficiencies through its technology as the vanguard of cannabis.

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