Trulieve Cannabis (NYSE:TRLV) Shares Gap Down – What’s Next?

Trulieve Cannabis Corp. (NYSE:TRLV) shares gapped down prior to trading on Wednesday. The stock had previously closed at $12.41, but opened at $10.86. Trulieve Cannabis shares last traded at $10.7260, with a volume of 1,386,029 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of Trulieve Cannabis in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Trading Down 16.4%

The business has a fifty day simple moving average of $10.53.

Trulieve Cannabis (NYSE:TRLV) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $271.00 million during the quarter, compared to the consensus estimate of $268.82 million. Equities analysts anticipate that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current year.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes, manufactures and sells medical and adult-use cannabis products. Its product portfolio includes flower, pre-rolls, concentrates, edibles, tinctures, capsules and topical products, marketed under the Trulieve brand and other affiliated brands.

The company sells its products through a network of company-operated dispensaries and, where permitted, through wholesale and other distribution channels.