HEXO Corp. (NYSE:HEXO) Given Average Rating of “Hold” by Brokerages

Posted by on Jun 9th, 2022

HEXO Corp. (NYSE:HEXO – Get Rating) has earned an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.64.

A number of equities research analysts have weighed in on the stock. Atb Cap Markets upgraded shares of HEXO from an “underperform” rating to a “sector perform” rating in a report on Thursday, March 3rd. Canaccord Genuity Group upgraded shares of HEXO from a “hold” rating to a “buy” rating in a report on Friday, March 4th. Cantor Fitzgerald cut their price target on shares of HEXO from $1.20 to $0.90 and set a “neutral” rating on the stock in a report on Friday, March 4th. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Canaccord Genuity Group upgraded shares of HEXO from a “hold” rating to a “speculative buy” rating in a report on Friday, March 4th.

HEXO stock opened at $0.28 on Thursday. HEXO has a 1 year low of $0.24 and a 1 year high of $7.28. The company has a market cap of $126.13 million, a P/E ratio of -0.11 and a beta of 1.21. The firm has a 50-day moving average of $0.38 and a 200 day moving average of $0.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.96 and a quick ratio of 0.60.

HEXO (NYSE:HEXO – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). HEXO had a negative return on equity of 22.43% and a negative net margin of 555.46%. The company had revenue of $41.86 million during the quarter, compared to the consensus estimate of $50.36 million. On average, equities research analysts expect that HEXO will post -0.87 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new stake in HEXO in the 2nd quarter valued at $225,000. Mackenzie Financial Corp increased its holdings in HEXO by 115.6% in the 4th quarter. Mackenzie Financial Corp now owns 49,291 shares of the company’s stock valued at $34,000 after acquiring an additional 26,426 shares during the last quarter. Squarepoint Ops LLC bought a new stake in HEXO in the 4th quarter valued at $36,000. Dimensional Fund Advisors LP bought a new stake in HEXO in the 3rd quarter valued at $142,000. Finally, Credit Suisse AG increased its holdings in HEXO by 17.8% in the 3rd quarter. Credit Suisse AG now owns 106,762 shares of the company’s stock valued at $197,000 after acquiring an additional 16,169 shares during the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

HEXO Company Profile (Get Rating)

HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. It also provides cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brands; and cannabis products under UP Cannabis, Original Stash, and Up brand names.

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