CannTrust (NYSE:CTST) Sees Unusually-High Trading Volume

Shares of CannTrust Holdings Inc (NYSE:CTST) saw strong trading volume on Friday . 14,625,910 shares changed hands during mid-day trading, an increase of 428% from the previous session’s volume of 2,770,018 shares.The stock last traded at C$3.17 and had previously closed at C$2.25.

A number of research analysts have recently commented on the company. Zacks Investment Research cut CannTrust from a “buy” rating to a “hold” rating in a research note on Friday. Bloom Burton cut CannTrust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Roth Capital reiterated a “neutral” rating on shares of CannTrust in a research note on Tuesday, July 9th. Citigroup initiated coverage on CannTrust in a report on Wednesday, July 3rd. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Paradigm Capital restated a “buy” rating on shares of CannTrust in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. CannTrust presently has a consensus rating of “Hold” and an average price target of C$7.25.

The company has a market cap of $318.33 million, a price-to-earnings ratio of -28.82 and a beta of 3.42. The stock’s fifty day simple moving average is C$3.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.64 and a quick ratio of 3.38.

CannTrust (NYSE:CTST) last posted its quarterly earnings data on Tuesday, May 14th. The company reported C$0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of C($0.05) by C$0.14. The business had revenue of C$16.85 million during the quarter, compared to the consensus estimate of C$17.00 million. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. CannTrust’s quarterly revenue was up 114.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, analysts predict that CannTrust Holdings Inc will post -0.1 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTST. Virtu Financial LLC purchased a new stake in CannTrust in the 1st quarter worth about $618,000. Paragon Capital Management LLC purchased a new stake in CannTrust in the 1st quarter worth about $54,000. Winslow Evans & Crocker Inc. purchased a new stake in CannTrust in the 1st quarter worth about $56,000. Creative Planning purchased a new stake in CannTrust in the 1st quarter worth about $119,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in CannTrust in the 1st quarter worth about $100,000. Institutional investors and hedge funds own 6.46% of the company’s stock.

CannTrust Company Profile (NYSE:CTST)

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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