VIVO Cannabis (VVCIF) Receives a Buy from Clarus

By Jason Carr

In a report released yesterday, Noel Atkinson from Clarus maintained a Buy rating on VIVO Cannabis (VVCIFResearch Report), with a price target of $0.70. The company’s shares closed last Wednesday at $0.18.

According to TipRanks.com, Atkinson is ranked #405 out of 6721 analysts.

VIVO Cannabis has an analyst consensus of Moderate Buy, with a price target consensus of $0.46.

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Based on VIVO Cannabis’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.2 million and GAAP net loss of $11.06 million. In comparison, last year the company earned revenue of $5.05 million and had a net profit of $5.02 million.

Based on the recent corporate insider activity of 52 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 VVCIF in relation to earlier this year.

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VIVO Cannabis, Inc. engages in the cultivation and production of cannabis-based products. It operates through the following segments: Medical and Non-Medical Cannabis, Patient Clinic, and Corporate. The Medical and Non-Medical Cannabis segment produces and sells cannabis and cannabis-derived products for medical purposes and for the adult-use market. The Patient Clinic segment manages education focused, patient-centric, and cannabis discovery clinics under the name of Harvest Medicine. The Corporate segment relates to the non-production related corporate activities and international operations. The company was founded by Ken Clement in 2007 and is headquartered in Napanee, Canada.