Trulieve Cannabis (NYSE:TRLV) Stock Price Up 4.5% – What’s Next?

Trulieve Cannabis Corp. (NYSE:TRLV)’s stock price was up 4.5% on Wednesday . The company traded as high as $11.72 and last traded at $11.8350. 249,766 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 674,749 shares. The stock had previously closed at $11.32.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a report on Friday, August 7th. Weiss Ratings began coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They set a “sell (d-)” rating on the stock. Finally, Wall Street Zen lowered Trulieve Cannabis from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Stock Performance

The firm has a 50-day moving average price of $9.21.

Trulieve Cannabis (NYSE:TRLV) last released its quarterly earnings data on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $271.00 million for the quarter, compared to analyst estimates of $268.82 million. On average, sell-side analysts forecast that Trulieve Cannabis Corp. will post 0.31 EPS for the current year.

Insider Buying and Selling at Trulieve Cannabis

In related news, CEO Kim A. Rivers sold 136,811 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $8.76, for a total value of $1,198,464.36. Following the sale, the chief executive officer owned 1,476,913 shares of the company’s stock, valued at approximately $12,937,757.88. This trade represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,699,007 shares of company stock worth $14,661,355. 3.79% of the stock is currently owned by corporate insiders.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.