HEXO (NASDAQ:HEXO) Coverage Initiated by Analysts at MKM Partners

MKM Partners began coverage on shares of HEXO (NASDAQ:HEXO) in a research note published on Friday, The Fly reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Oppenheimer lowered HEXO from an outperform rating to a market perform rating in a report on Tuesday, June 25th. Bank of America set a $10.00 target price on HEXO and gave the stock a buy rating in a research note on Thursday, June 13th. Zacks Investment Research downgraded HEXO from a hold rating to a sell rating in a research note on Wednesday, August 7th. TheStreet downgraded HEXO from a c- rating to a d+ rating in a research note on Monday, July 22nd. Finally, CIBC restated a market perform rating on shares of HEXO in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $9.20.

Shares of HEXO opened at $4.36 on Friday. The business has a 50-day moving average of $4.28 and a 200 day moving average of $5.66. HEXO has a fifty-two week low of $3.02 and a fifty-two week high of $8.40.

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc boosted its stake in HEXO by 39.2% in the 2nd quarter. CIBC Asset Management Inc now owns 217,335 shares of the company’s stock worth $1,160,000 after purchasing an additional 61,220 shares during the period. Brookstone Capital Management bought a new stake in shares of HEXO during the 2nd quarter valued at about $140,000. BNP Paribas Arbitrage SA bought a new stake in shares of HEXO during the 2nd quarter valued at about $532,000. Cetera Advisor Networks LLC bought a new stake in shares of HEXO during the 2nd quarter valued at about $142,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of HEXO during the 2nd quarter valued at about $205,000.

HEXO Company Profile

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

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Analyst Recommendations for HEXO (NASDAQ:HEXO)

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