CannTrust (NYSE:CTST) Downgraded to “Hold” at Bloom Burton

Bloom Burton cut shares of CannTrust (NYSE:CTST) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

A number of other research analysts have also issued reports on the company. Paradigm Capital reiterated a buy rating on shares of CannTrust in a research report on Thursday, May 23rd. Eight Capital lowered CannTrust from a buy rating to a neutral rating in a research report on Monday, July 8th. Bank of America reiterated a sell rating on shares of Deutsche Bank in a research report on Monday, July 8th. Citigroup set a $95.00 price target on iRobot and gave the stock a hold rating in a research report on Wednesday, July 3rd. Finally, BMO Capital Markets upgraded Tourmaline Oil from a market perform rating to an outperform rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of C$7.94.

Shares of CTST stock opened at C$2.58 on Wednesday. The company has a quick ratio of 3.38, a current ratio of 5.64 and a debt-to-equity ratio of 0.01. CannTrust has a 1 year low of C$2.50 and a 1 year high of C$11.97. The stock’s fifty day simple moving average is C$5.01. The firm has a market cap of $439.20 million, a price-to-earnings ratio of -23.45 and a beta of 3.49.

CannTrust (NYSE:CTST) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.14. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. The company had revenue of C$16.85 million during the quarter, compared to analyst estimates of C$17.00 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 114.9% on a year-over-year basis. As a group, analysts predict that CannTrust will post -0.03 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of CTST. Davis Rea LTD. raised its holdings in CannTrust by 7.4% in the 2nd quarter. Davis Rea LTD. now owns 532,785 shares of the company’s stock valued at $2,669,000 after acquiring an additional 36,650 shares in the last quarter. Hilton Capital Management LLC acquired a new position in CannTrust in the 1st quarter valued at approximately $698,000. JW Asset Management LLC acquired a new position in CannTrust in the 1st quarter valued at approximately $10,863,000. Aureus Asset Management LLC acquired a new position in CannTrust in the 1st quarter valued at approximately $647,000. Finally, PNC Financial Services Group Inc. acquired a new position in CannTrust in the 1st quarter valued at approximately $26,000. 5.96% of the stock is currently owned by institutional investors.

About CannTrust

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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