HEXO Corp. (NASDAQ: HEXO) Could See A Rise In Prices Shortly. – Marketing Sentinel
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HEXO Corp. (NASDAQ: HEXO) Could See A Rise In Prices Shortly.

In the last trading session, 5.22 million shares of the HEXO Corp. (NASDAQ:HEXO) were traded, and its beta was 2.10. Most recently the company’s share price was $0.21, and it changed around $0.01 or 1.42% from the last close, which brings the market valuation of the company to $103.09M. HEXO currently trades at a discount to its 52-week high of $6.05, offering almost -2780.95% off that amount. The share price’s 52-week low was $0.20, which indicates that the current value has risen by an impressive 4.76% since then. We note from HEXO Corp.’s average daily trading volume that its 10-day average is 5.73 million shares, with the 3-month average coming to 7.85 million.

HEXO Corp. stock received a consensus recommendation rating of an Underweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 3 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended HEXO as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. HEXO Corp. is expected to report earnings per share of -$0.03 for the current quarter.

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HEXO Corp. (NASDAQ:HEXO) trade information

Instantly HEXO has showed a green trend with a performance of 1.42% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.2400 on Tuesday, 06/21/22 increased the stock’s daily price by 12.5%. The company’s shares are currently down -70.29% year-to-date, but still down -13.50% over the last five days. On the other hand, HEXO Corp. (NASDAQ:HEXO) is -29.79% down in the 30-day period. We can see from the shorts that 38.25 million shares have been sold at a short interest cover period of 5.37 day(s).

The consensus price target as assigned by Wall Street analysts is $0.25, which translates to bulls needing to increase their stock price by 16.0% from its current value. Analyst projections state that HEXO is forecast to be at a low of $0.12 and a high of $0.42. In order for the stock price to hit the forecast high, the stock would need to plunge -100.0% from its current level, while the stock would need to crash 42.86% from its current level to reach the projected low.

HEXO Corp. (HEXO) estimates and forecasts

HEXO Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -75.31 percent over the past six months and at a -328.89% annual growth rate that is well below the industry average of 8.40%. The year-over-year growth rate is expected to be 67.40%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $40.57 million in revenue for the current quarter. 4 analysts expect HEXO Corp. to make $41.88 million in revenue for the quarter ending Jul 2022. Forecasts for the next quarter put sales growth at 36.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -21.40%.

HEXO Dividends

HEXO Corp.’s next quarterly earnings report is expected to be released around March 16 and March 21.

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

Upon looking at major shareholders, it appears that insiders hold 3.27% of HEXO Corp. shares, and 18.03% of them are in the hands of institutional investors. The stock currently has a share float of 18.64%. HEXO Corp. stock is held by 146 institutions, with ETF Managers Group, LLC being the largest institutional investor. By Dec 30, 2021, it held 5.21% of the shares, which is about 23.76 million shares worth $16.6 million.

Morgan Stanley, with 2.29% or 10.42 million shares worth $7.28 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF were the top two Mutual Funds as of Jan 30, 2022. The former held 23.1 million shares worth $12.94 million, making up 5.07% of all outstanding shares. On the other hand, Global X Fds-The Global X Cannabis ETF held roughly 5.72 million shares worth around $3.06 million, which represents about 1.26% of the total shares outstanding.

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