HEXO (NASDAQ:HEXO)‘s stock had its “hold” rating reiterated by equities research analysts at CIBC in a research report issued on Monday, AnalystRatings.com reports. They currently have a $4.00 target price on the stock. CIBC’s price objective indicates a potential upside of 54.44% from the company’s previous close.
Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group raised HEXO from an “underperform” rating to a “hold” rating in a report on Friday, October 11th. Bank of America downgraded HEXO from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $9.00 to $4.00 in a report on Monday, October 7th. MKM Partners initiated coverage on HEXO in a report on Friday, September 20th. They issued a “buy” rating and a $12.00 price objective for the company. Seaport Global Securities downgraded HEXO from a “buy” rating to a “neutral” rating in a report on Monday, October 14th. Finally, TheStreet downgraded HEXO from a “c-” rating to a “d+” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.71.
HEXO stock opened at $2.59 on Monday. HEXO has a twelve month low of $2.28 and a twelve month high of $8.40. The business has a 50 day simple moving average of $3.77 and a 200-day simple moving average of $5.23.
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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