HEXO Corp. (NASDAQ:HEXO)’s stock price traded up 9.6% during trading on Monday . The company traded as high as $2.29 and last traded at $2.29, 4,380,487 shares were traded during trading. An increase of 11% from the average session volume of 3,929,035 shares. The stock had previously closed at $2.09.
HEXO has been the subject of a number of research reports. CIBC lowered HEXO from a “neutral” rating to a “sector underperform” rating and lowered their price target for the company from $4.00 to $3.00 in a report on Friday, October 25th. Seaport Global Securities downgraded HEXO from a “buy” rating to a “neutral” rating in a report on Monday, October 14th. MKM Partners assumed coverage on HEXO in a research report on Friday, September 20th. They set a “buy” rating and a $12.00 target price for the company. Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised HEXO from an “underperform” rating to a “hold” rating in a research report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. HEXO currently has a consensus rating of “Hold” and a consensus price target of $6.52.
The stock’s 50 day moving average price is $2.18 and its 200-day moving average price is $4.09.
Several large investors have recently made changes to their positions in HEXO. Chicago Partners Investment Group LLC bought a new position in shares of HEXO in the 3rd quarter worth $27,000. Van Hulzen Asset Management LLC bought a new position in HEXO in the third quarter worth about $55,000. Private Advisor Group LLC bought a new position in HEXO in the second quarter worth about $58,000. US Bancorp DE purchased a new stake in shares of HEXO during the second quarter valued at about $59,000. Finally, Planning Directions Inc. purchased a new stake in shares of HEXO during the third quarter valued at about $60,000.
About HEXO (NASDAQ: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.
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