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Following Its 52-Week Low, HEXO Corp. (NASDAQ: HEXO)’S Share Price Rose 14.29% And Its YTD Numbers Fell -70.09%

During the last session, HEXO Corp. (NASDAQ:HEXO)’s traded shares were 6.73 million, with the beta value of the company hitting 2.01. At the end of the trading day, the stock’s price was $0.21, reflecting an intraday gain of 1.95% or $0.01. The 52-week high for the HEXO share is $4.00, that puts it down -1804.76 from that peak though still a striking 14.29% gain since the share price plummeted to a 52-week low of $0.18. The company’s market capitalization is $119.70M, and the average intraday trading volume over the past 10 days was 10.82 million shares, and the average trade volume was 8.93 million shares over the past three months.

HEXO Corp. (HEXO) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 2.50. HEXO has a Sell rating from 3 analyst(s) out of 8 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.

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HEXO Corp. (NASDAQ:HEXO) trade information

HEXO Corp. (HEXO) registered a 1.95% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.95% in intraday trading to $0.21 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 13.34%, and it has moved by 0.53% in 30 days. Based on these gigs, the overall price performance for the year is -94.71%. The short interest in HEXO Corp. (NASDAQ:HEXO) is 12.16 million shares and it means that shorts have 1.24 day(s) to cover.

The consensus price target of analysts on Wall Street is $0.21, which implies a decrease of 0.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.12 and $0.39 respectively. As a result, HEXO is trading at a discount of -85.71% off the target high and 42.86% off the low.

HEXO Corp. (HEXO) estimates and forecasts

Statistics show that HEXO Corp. has underperformed its competitors in share price, compared to the industry in which it operates. HEXO Corp. (HEXO) shares have gone down -67.34% during the last six months, with a year-to-date growth rate less than the industry average at -342.22% against 5.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 87.50% this quarter and then jump 102.80% in the quarter after that. In the rating firms’ projections, revenue will increase 54.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $34.15 million as predicted by 5 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $35.83 million by the end of Oct 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $30.62 million and $45.08 million respectively. In this case, analysts expect current quarter sales to grow by 11.50% and then drop by -20.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -21.40%. While earnings are projected to return 87.30% in 2022.

HEXO Dividends

HEXO Corp. is due to release its next quarterly earnings between March 16 and March 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

HEXO Corp. insiders own 2.73% of total outstanding shares while institutional holders control 17.42%, with the float percentage being 17.91%. ETF Managers Group, LLC is the largest shareholder of the company, while 133 institutions own stock in it. As of Mar 30, 2022, the company held over 30.88 million shares (or 6.09% of all shares), a total value of $19.14 million in shares.

The next largest institutional holding, with 27.35 million shares, is of Hudson Bay Capital Management Lp’s that is approximately 5.40% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $16.95 million.

Also, the Mutual Funds coming in first place with the largest holdings of HEXO Corp. (HEXO) shares are ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. Data provided on Mar 30, 2022 indicates that ETF Managers Tr-EFTMG Alternative Harvest ETF owns about 30.88 million shares. This amounts to just over 6.09 percent of the company’s overall shares, with a $19.14 million market value. The same data shows that the other fund manager holds slightly less at 8.62 million, or about 1.70% of the stock, which is worth about $1.81 million.

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