HEXO (NASDAQ:HEXO) Stock Rating Reaffirmed by CIBC

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.

Several institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives bought a new stake in shares of HEXO during the 2nd quarter valued at about $230,000. Commonwealth Equity Services LLC boosted its stake in HEXO by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 74,735 shares of the company’s stock worth $397,000 after acquiring an additional 3,935 shares in the last quarter. G&S Capital LLC bought a new stake in HEXO during the second quarter worth about $30,000. Flagship Harbor Advisors LLC boosted its stake in HEXO by 9,094.0% during the second quarter. Flagship Harbor Advisors LLC now owns 13,791 shares of the company’s stock worth $73,000 after acquiring an additional 13,641 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in HEXO during the second quarter worth about $75,000.

About HEXO

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.

See Also: Put Option

Analyst Recommendations for HEXO (NASDAQ:HEXO)

Receive News & Ratings for HEXO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HEXO and related companies with MarketBeat.com's FREE daily email newsletter.