HEXO Corp (HEXO)

[FUNMAN]

Oppenheimer Weighs in on HEXO Corp.’s Q4 2020 Earnings (NASDAQ:HEXO)


Posted by Cindy Kellogue on Oct 9th, 2019


https://mayfieldrecorder.com/2019/10/09/oppenheimer-weighs-in-on-hexo-corp-s-q4-2020-earnings-nasdaqhexo.html


HEXO Corp. (NASDAQ:HEXO) – Equities researchers at Oppenheimer issued their Q4 2020 EPS estimates for HEXO in a report issued on Monday, October 7th. Oppenheimer analyst R. Parikh anticipates that the company will post earnings per share of $0.01 for the quarter. Oppenheimer has a “Market Perform” rating on the stock.



A number of other analysts have also weighed in on the company. CIBC reaffirmed a “market perform” rating on shares of HEXO in a research report on Tuesday, June 25th. Zacks Investment Research raised HEXO from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Wednesday, October 2nd. Bank of America lowered HEXO from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $9.00 to $4.00 in a research report on Monday. TheStreet lowered HEXO from a “c-” rating to a “d+” rating in a research report on Monday, July 22nd. Finally, MKM Partners began coverage on HEXO in a research report on Friday, September 20th. They set a “buy” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. HEXO currently has a consensus rating of “Hold” and a consensus target price of $7.67.



HEXO stock opened at $3.70 on Tuesday. HEXO has a twelve month low of $3.02 and a twelve month high of $8.40. The stock’s fifty day simple moving average is $4.14 and its 200-day simple moving average is $5.50.


Hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of HEXO by 39.2% during the second quarter. CIBC Asset Management Inc now owns 217,335 shares of the company’s stock worth $1,160,000 after purchasing an additional 61,220 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of HEXO during the second quarter worth $140,000. BNP Paribas Arbitrage SA acquired a new position in shares of HEXO during the second quarter worth $532,000. Cetera Advisor Networks LLC acquired a new position in shares of HEXO during the second quarter worth $142,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of HEXO during the second quarter worth $205,000.


HEXO Company Profile


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.