HEXO Corp. (NYSE:HEXO) 71.93% Above its 52-week Low, How Long Will it Keep Rising? – Marketing Sentinel

HEXO Corp. (NYSE:HEXO) 71.93% Above its 52-week Low, How Long Will it Keep Rising?

In last trading session, HEXO Corp. (NYSE:HEXO) saw 3,214,014 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $5.7 trading at -$0.09 or -1.55% at ring of the bell on the day assigns it a market valuation of $697.63 Million. That closing price of HEXO’s stock is at a discount of -93.68% from its 52-week high price of $11.04 and is indicating a premium of 71.93% from its 52-week low price of $1.6. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.64 Million shares which gives us an average trading volume of 7.36 Million if we extend that period to 3-months.

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For HEXO Corp. (HEXO), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 0. Splitting up the data highlights that, out of 13 analysts covering the stock, 1 rated the stock as a Sell while none recommended an Overweight rating for the stock. 9 suggested the stock as a Hold whereas 3 see the stock as a Buy. None analyst(s) advised it as an Underweight.

HEXO Corp. (NYSE:HEXO) trade information

In the face of being in the red during last session for losing -1.55%, in the last five days HEXO remained trading in the green while hitting it’s week-highest on Friday, Apr 09 when the stock touched $6.62-1 price level, adding 13.87% to its value on the day. HEXO Corp.’s shares saw a change of 54.89% in year-to-date performance and have moved -10.52% in past 5-day. HEXO Corp. (NYSE:HEXO) showed a performance of -27.2% in past 30-days. Number of shares sold short was 10.35 Million shares which calculate 1.41 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $7.81 to the stock, which implies a rise of 37.02% to its current value. Analysts have been projecting $4.5 as a low price target for the stock while placing it at a high target of $11.26. It follows that stock’s current price would jump +97.54% in reaching the projected high whereas dropping to the targeted low would mean a loss of -21.05% for stock’s current value.

HEXO Corp. (HEXO) estimates and forecasts

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0% during past 5 years. In 2021, company’s earnings growth rate is likely to be around 0% while estimates for its earnings growth in next 5 years are of 0%

HEXO Corp. (NYSE:HEXO)’s Major holders

Insiders are in possession of 5.2% of company’s total shares while institution are holding 14.35% percent of that, with stock having share float percentage of 15.14%. Investors also watch the number of corporate investors in a company very closely, which is 113 institutions for HEXO Corp. that are currently holding shares of the company. ETF Managers Group, LLC is the top institutional holder at HEXO for having 9.65 Million shares of worth $35.5 Million. And as of December 30, 2020, it was holding 7.88% of the company’s outstanding shares.

The second largest institutional holder is Millennium Management LLC, which was holding about 691.32 Thousand shares on December 30, 2020. The number of shares represents firm’s hold over 0.56% of outstanding shares, having a total worth of $2.54 Million.

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On the other hand, ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF are the top two Mutual Funds which own company’s shares. As of December 30, 2020, the former fund manager was holding 9647301 shares of worth $35.5 Million or 7.88% of the total outstanding shares. The later fund manager was in possession of 1.16 Million shares on February 27, 2021, making its stake of worth around $8.1 Million in the company or a holder of 0.95% of company’s stock.

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