HEXO Corp. (NYSE:HEXO – Get Rating)’s share price shot up 5.3% on Monday . The company traded as high as $1.20 and last traded at $1.20. 751,593 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,209,575 shares. The stock had previously closed at $1.14.
Wall Street Analysts Forecast Growth
Separately, Roth Capital reiterated a “neutral” rating on shares of HEXO in a report on Tuesday, March 21st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.
HEXO Stock Up 5.3 %
The stock has a market cap of $52.80 million, a price-to-earnings ratio of -0.17 and a beta of 1.35. The stock has a fifty day moving average of $1.45 and a two-hundred day moving average of $1.81.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HEXO. Bank of America Corp DE lifted its stake in shares of HEXO by 80.2% during the fourth quarter. Bank of America Corp DE now owns 27,576 shares of the company’s stock worth $28,000 after purchasing an additional 12,272 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of HEXO during the first quarter worth about $29,000. National Bank of Canada FI lifted its stake in shares of HEXO by 571.4% during the first quarter. National Bank of Canada FI now owns 45,937 shares of the company’s stock worth $61,000 after purchasing an additional 39,095 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of HEXO by 1,230.8% during the third quarter. Commonwealth Equity Services LLC now owns 399,839 shares of the company’s stock worth $69,000 after purchasing an additional 369,794 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of HEXO by 181.5% during the first quarter. Mackenzie Financial Corp now owns 138,732 shares of the company’s stock worth $86,000 after purchasing an additional 89,441 shares in the last quarter. Institutional investors and hedge funds own 9.50% of the company’s stock.
HEXO Company Profile
HEXO Corp. engages in the provision of cannabis and cannabis products. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.
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