HEXO (HEXO) Receives a Sell from Jefferies

By Carrie Williams

In a report released yesterday, Owen Bennett from Jefferies maintained a Sell rating on HEXO (HEXOResearch Report), with a price target of C$0.75. The company’s shares closed last Tuesday at $0.74, close to its 52-week low of $0.35.

According to TipRanks.com, Bennett is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -12.1% and a 36.5% success rate. Bennett covers the Basic Materials sector, focusing on stocks such as The Green Organic Dutchman Holdings, OrganiGram Holdings, and Aurora Cannabis.

Currently, the analyst consensus on HEXO is a Hold with an average price target of $0.80.

See today’s analyst top recommended stocks >>

Based on HEXO’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $22.13 million and GAAP net loss of $19.52 million. In comparison, last year the company earned revenue of $13.02 million and had a GAAP net loss of $7.75 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HEXO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

HEXO Corp. engages in the manufacture, production, and distribution of medicinal marijuana. It offers products through the Time of Day, H2, Decarb, and Exlixir No. 1 brands. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.