Trulieve Cannabis (NYSE:TRLV) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Trulieve Cannabis (NYSE:TRLV)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $15.00 target price on the stock. Cantor Fitzgerald‘s price target indicates a potential upside of 44.27% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. Wall Street Zen cut Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Trading Down 4.8%

NYSE:TRLV traded down $0.52 during trading hours on Friday, hitting $10.40. 1,398,513 shares of the stock traded hands, compared to its average volume of 962,544. The business’s 50 day simple moving average is $11.17. The firm has a market capitalization of $2.00 billion and a price-to-earnings ratio of 94.52. Trulieve Cannabis has a fifty-two week low of $4.62 and a fifty-two week high of $13.28. The company has a current ratio of 5.94, a quick ratio of 3.98 and a debt-to-equity ratio of 0.45.

Trulieve Cannabis (NYSE:TRLV) last issued its earnings results on Friday, August 7th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Trulieve Cannabis had a negative return on equity of 4.24% and a negative net margin of 41.55%. The business had revenue of $271.00 million during the quarter, compared to analysts’ expectations of $268.82 million. Research analysts predict that Trulieve Cannabis will post 0.31 EPS for the current year.

Institutional Trading of Trulieve Cannabis

A number of hedge funds have recently made changes to their positions in TRLV. PFS Partners LLC purchased a new stake in shares of Trulieve Cannabis in the third quarter worth approximately $33,000. Marion Wealth Management purchased a new stake in shares of Trulieve Cannabis in the third quarter worth approximately $109,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Trulieve Cannabis in the third quarter worth approximately $770,000.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes and sells medical and adult-use cannabis products. Its offerings include flower, pre-rolls, concentrates, vaporizers, edibles, tinctures, capsules and topical products, sold through retail dispensaries and other approved channels under brands such as Trulieve, Cultivar Collection, Muse, Roll One and Alchemy.

Founded in 2015, Trulieve initially built its business around Florida’s medical cannabis market and later expanded into additional U.S.