HEXO (NASDAQ:HEXO) Shares Gap Up to $2.89

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HEXO Corp. (NASDAQ:HEXO)’s share price gapped up before the market opened on Friday . The stock had previously closed at $3.18, but opened at $2.89. HEXO shares last traded at $2.71, with a volume of 132,064 shares.

Several equities analysts have recently commented on HEXO shares. Seaport Global Securities lowered shares of HEXO from a “buy” rating to a “neutral” rating in a research report on Monday. TheStreet lowered shares of HEXO from a “c-” rating to a “d+” rating in a research report on Monday, July 22nd. Zacks Investment Research lowered shares of HEXO from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Oppenheimer lowered shares of HEXO from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, MKM Partners started coverage on shares of HEXO in a research report on Friday, September 20th. They set a “buy” rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.08.

The firm’s 50-day moving average price is $3.87 and its 200 day moving average price is $5.31.

Several institutional investors have recently added to or reduced their stakes in HEXO. CLARET ASSET MANAGEMENT Corp lifted its holdings in HEXO by 23.3% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 47,640 shares of the company’s stock worth $188,000 after purchasing an additional 9,000 shares during the period. River & Mercantile Asset Management LLP acquired a new stake in HEXO in the second quarter worth about $351,000. Toronto Dominion Bank lifted its holdings in HEXO by 26.5% in the second quarter. Toronto Dominion Bank now owns 130,084 shares of the company’s stock worth $694,000 after purchasing an additional 27,231 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in HEXO by 208.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,867 shares of the company’s stock worth $106,000 after purchasing an additional 13,435 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in HEXO by 36.5% in the second quarter. UBS Asset Management Americas Inc. now owns 123,900 shares of the company’s stock worth $663,000 after purchasing an additional 33,100 shares during the period.

HEXO Company Profile (NASDAQ:HEXO)

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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