CannTrust (NYSE:CTST) Downgraded to Neutral at Eight Capital

Eight Capital cut shares of CannTrust (NYSE:CTST) from a buy rating to a neutral rating in a research note issued to investors on Monday, The Fly reports.

Several other equities analysts have also commented on CTST. Paradigm Capital reaffirmed a buy rating on shares of CannTrust in a report on Thursday, May 23rd. Bank of America reaffirmed a sell rating on shares of Deutsche Bank in a report on Monday. Bloom Burton raised shares of CannTrust from an accumulate rating to a buy rating in a report on Wednesday, May 15th. BMO Capital Markets raised shares of Tourmaline Oil from a market perform rating to an outperform rating in a report on Thursday, May 30th. Finally, Citigroup set a $95.00 target price on shares of iRobot and gave the company a hold rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. CannTrust has an average rating of Buy and an average target price of C$7.94.

CTST stock opened at C$3.11 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.38 and a current ratio of 5.64. CannTrust has a 52 week low of C$2.69 and a 52 week high of C$11.97. The firm’s fifty day simple moving average is C$5.07.

CannTrust (NYSE:CTST) last released its earnings results on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.05) by C$0.14. CannTrust had a negative net margin of 22.33% and a negative return on equity of 6.69%. The company had revenue of C$16.85 million for the quarter, compared to analyst estimates of C$17.00 million. During the same quarter last year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 114.9% compared to the same quarter last year. Research analysts expect that CannTrust will post -0.03 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Davis Rea LTD. bought a new position in CannTrust during the 1st quarter worth about $3,846,000. Legacy Advisors LLC bought a new position in CannTrust during the 1st quarter worth about $1,555,000. Virtu Financial LLC bought a new position in CannTrust during the 1st quarter worth about $618,000. Paragon Capital Management LLC bought a new position in CannTrust during the 1st quarter worth about $54,000. Finally, Winslow Evans & Crocker Inc. bought a new position in CannTrust during the 1st quarter worth about $56,000. 5.96% of the stock is currently owned by institutional investors and hedge funds.

CannTrust Company Profile

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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Analyst Recommendations for CannTrust (NYSE:CTST)

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