CannTrust (NYSE:CTST) Shares Gap Up to $1.17

Shares of CannTrust Holdings Inc (NYSE:CTST) gapped up before the market opened on Thursday . The stock had previously closed at $1.19, but opened at $1.17. CannTrust shares last traded at $1.16, with a volume of 1,372,852 shares trading hands.

CTST has been the topic of several research reports. Canaccord Genuity set a $2.00 price objective on shares of CannTrust and gave the company a “hold” rating in a report on Wednesday, September 18th. ValuEngine upgraded CannTrust from a “hold” rating to a “buy” rating in a research note on Saturday, January 4th. Finally, Zacks Investment Research upgraded CannTrust from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of C$3.63.

The stock has a market cap of $157.05 million, a price-to-earnings ratio of -10.55 and a beta of 3.25. The company has a 50-day simple moving average of C$0.90 and a two-hundred day simple moving average of C$1.64.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. United Capital Financial Advisers LLC acquired a new position in shares of CannTrust in the 2nd quarter worth approximately $74,000. Tower Research Capital LLC TRC purchased a new position in shares of CannTrust during the second quarter valued at approximately $72,000. Vanguard Group Inc. lifted its stake in shares of CannTrust by 45.7% during the second quarter. Vanguard Group Inc. now owns 91,405 shares of the company’s stock valued at $459,000 after buying an additional 28,677 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of CannTrust during the second quarter valued at approximately $1,460,000. Finally, Morgan Stanley lifted its stake in shares of CannTrust by 17.0% during the second quarter. Morgan Stanley now owns 1,266,411 shares of the company’s stock valued at $6,357,000 after buying an additional 184,341 shares during the period. Institutional investors and hedge funds own 23.72% of the company’s stock.

About CannTrust (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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