HEXO Corp. (HEXO)’s Stock Price Falls Due To Weak Fundamental Momentum – Marketing Sentinel
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HEXO Corp. (HEXO)’s Stock Price Falls Due To Weak Fundamental Momentum

HEXO Corp. (NASDAQ:HEXO) has a beta value of 2.08 and has seen 6.91 million shares traded in the last trading session. The company, currently valued at $614.59M, closed the last trade at $2.39 per share which meant it lost -$0.05 on the day or -2.05% during that session. The HEXO stock price is -361.92% off its 52-week high price of $11.04 and 4.18% above the 52-week low of $2.29. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.66 million shares traded. The 3-month trading volume is 5.29 million shares.

HEXO Corp. (NASDAQ:HEXO) trade information

Sporting -2.05% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 09/03/21 when the HEXO stock price touched $2.39 or saw a rise of 5.53%. Year-to-date, HEXO Corp. shares have moved -35.05%, while the 5-day performance has seen it change -1.65%. Over the past 30 days, the shares of HEXO Corp. (NASDAQ:HEXO) have changed -38.40%. Short interest in the company has seen 21.88 million shares shorted with days to cover at 5.71.

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Wall Street analysts have a consensus price target for the stock at $4.54, which means that the shares’ value could jump 47.36% from current levels. The projected low price target is $2.02 while the price target rests at a high of $6.59. In that case, then, we find that the current price level is -175.73% off the targeted high while a plunge would see the stock lose 15.48% from current levels.

HEXO Corp. (HEXO) estimates and forecasts

Figures show that HEXO Corp. shares have outperformed across the wider relevant industry. The company’s shares have lost -63.17% over the past 6 months, with this year growth rate of 77.08%, compared to 15.40% for the industry.

HEXO Dividends

HEXO Corp. is expected to release its next earnings report between October 27 and November 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 3.16% of the company shares, while shares held by institutions stand at 15.62% with a share float percentage of 16.13%. Investors are also buoyed by the number of investors in a company, with HEXO Corp. having a total of 144 institutions that hold shares in the company. The top two institutional holders are ETF Managers Group, LLC with over 13.18 million shares worth more than $76.44 million. As of Jun 29, 2021, ETF Managers Group, LLC held 6.52% of shares outstanding.

The other major institutional holder is Hudson Bay Capital Management LP, with the holding of over 4.6 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $26.69 million and represent 2.28% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. As of Jun 29, 2021, the former fund manager holds about 6.52% shares in the company for having 13.18 million shares of worth $76.44 million while later fund manager owns 2.91 million shares of worth $16.86 million as of Jun 29, 2021, which makes it owner of about 1.44% of company’s outstanding stock.

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