HEXO (NASDAQ:HEXO) Lifted to Hold at BidaskClub

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HEXO (NASDAQ:HEXO) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Alliance Global Partners reissued a “buy” rating on shares of HEXO in a report on Monday, June 1st. Bank of America began coverage on HEXO in a report on Tuesday, March 31st. They issued an “underperform” rating for the company. Desjardins lowered HEXO from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. Jefferies Financial Group lowered HEXO from a “hold” rating to an “underperform” rating and set a $1.00 target price for the company. in a report on Friday, February 21st. Finally, Stifel Nicolaus began coverage on HEXO in a report on Monday, March 9th. They set a “sell” rating and a $1.15 target price for the company. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. HEXO presently has an average rating of “Hold” and a consensus target price of $1.62.

HEXO traded up $0.05 during trading hours on Tuesday, hitting $1.07. The stock had a trading volume of 2,653,729 shares, compared to its average volume of 10,679,601. The company’s fifty day simple moving average is $0.59 and its 200 day simple moving average is $1.17. HEXO has a 1 year low of $0.35 and a 1 year high of $6.80.

HEXO (NASDAQ:HEXO) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $12.89 million during the quarter, compared to the consensus estimate of $12.21 million.

Several hedge funds and other institutional investors have recently modified their holdings of HEXO. Verus Capital Partners LLC purchased a new position in shares of HEXO during the fourth quarter worth about $25,000. Advisor Group Holdings Inc. purchased a new position in shares of HEXO during the first quarter worth about $25,000. UBS Group AG grew its holdings in shares of HEXO by 2,612.5% during the first quarter. UBS Group AG now owns 39,060 shares of the company’s stock worth $33,000 after purchasing an additional 37,620 shares in the last quarter. Independent Advisor Alliance purchased a new position in shares of HEXO during the fourth quarter worth about $43,000. Finally, Citigroup Inc. grew its holdings in shares of HEXO by 546.4% during the fourth quarter. Citigroup Inc. now owns 27,884 shares of the company’s stock worth $44,000 after purchasing an additional 23,570 shares in the last quarter.

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.

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