Oppenheimer Remains a Hold on HEXO (HEXO)

Oppenheimer analyst Rupesh Parikh maintained a Hold rating on HEXO (HEXO) today. The company’s shares closed last Friday at $6.62.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 12.0% and a 64.6% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.

HEXO has an analyst consensus of Hold, with a price target consensus of $8.73, implying a 31.9% upside from current levels. In a report issued on May 31, Canaccord Genuity also maintained a Hold rating on the stock with a C$9.00 price target.

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Based on HEXO’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $32.88 million and GAAP net loss of $20.84 million. In comparison, last year the company earned revenue of $17.01 million and had a GAAP net loss of $298 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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