Brokerages Set HEXO Corp. (NASDAQ:HEXO) Target Price at $9.72

HEXO Corp. (NASDAQ:HEXO) has earned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.72.

Several research analysts have recently weighed in on HEXO shares. Desjardins reiterated a “buy” rating on shares of Horizons Enhcd Inc Eqy Cl E Unt Etf in a research note on Thursday, April 25th. Bank of America set a $10.00 price objective on shares of HEXO and gave the company a “buy” rating in a research report on Thursday, June 13th. TheStreet upgraded shares of Whirlpool from a “c+” rating to a “b-” rating in a research report on Monday, July 22nd. Oppenheimer set a $14.00 price objective on shares of ADMA Biologics and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, AltaCorp Capital restated an “outperform” rating on shares of HEXO in a research report on Thursday, April 4th.

A number of hedge funds and other institutional investors have recently made changes to their positions in HEXO. FIL Ltd bought a new stake in HEXO in the 1st quarter valued at $4,691,000. Bank of Montreal Can bought a new stake in HEXO in the 1st quarter valued at $3,439,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in HEXO in the 1st quarter valued at $2,949,000. CIBC World Markets Inc. bought a new stake in HEXO in the 1st quarter valued at $1,676,000. Finally, EP Wealth Advisors LLC bought a new stake in HEXO in the 1st quarter valued at $1,572,000.

Shares of HEXO stock traded down $0.13 on Thursday, hitting $4.23. 154,409 shares of the company’s stock were exchanged, compared to its average volume of 3,554,713. The firm has a 50-day moving average of $5.18. HEXO has a 1 year low of $3.02 and a 1 year high of $8.40.

HEXO (NASDAQ:HEXO) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $11.98 million for the quarter, compared to analysts’ expectations of $10.96 million.

HEXO Company Profile

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

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Analyst Recommendations for HEXO (NASDAQ:HEXO)

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