Trulieve Cannabis (NYSE:TRLV) Cut to “Buy” at Wall Street Zen

Trulieve Cannabis (NYSE:TRLV) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

TRLV has been the topic of a number of other reports. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings began coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Trulieve Cannabis Trading Down 3.0%

Trulieve Cannabis stock traded down $0.26 during midday trading on Friday, hitting $8.58. The company’s stock had a trading volume of 1,412,550 shares, compared to its average volume of 626,211. Trulieve Cannabis has a 12 month low of $4.00 and a 12 month high of $13.28.

Insiders Place Their Bets

In related news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total value of $3,268,000.00. Following the completion of the sale, the chief executive officer directly owned 1,913,724 shares of the company’s stock, valued at approximately $15,635,125.08. This represents a 17.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,699,007 shares of company stock worth $14,661,355 over the last quarter. 3.79% of the stock is currently owned by 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.