Analysts Are Bullish On This Cannabis Stock, Should You Roll With Hexo Corp (HEXO) Friday?

Friday, May 27, 2022 10:48 AM | InvestorsObserver Analysts

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Analysts Are Bullish On This Cannabis Stock, Should You Roll With Hexo Corp (HEXO) Friday?

HEXO, a player in the cannabis market, is lower by 5.26% Friday as it underperforms the market as a whole. Wall Street is positive on Hexo Corp (HEXO). On average, analysts give HEXO a Buy rating. The average price target is $2.403, which means analysts expect the stock to add by 901.25% over the next twelve months. That average ranking earns HEXO an Analyst Rating of 17, which is better than 17% of stocks based on data compiled by InvestorsObserver.

Wall Street analysts are rating HEXO a Buy today. Find out what this means to you and get the rest of the rankings on HEXO!

See Full HEXO Report

Why are Analyst Ratings Important?

You can learn a lot about a company from looking at it’s financial statements and comparing them to other companies. Analysts who cover an industry in depth can add even more to your research though. They typically follow a particular sector or industry very closely. They also pay attention to and ask questions on earnings conference calls and other events where they might learn information that does show up in the numbers. InvestorsObserver takes the average rating from these analysts, and then percentile ranks those averages. This lets you compare stocks in a much more granular way than just seeing the typical five-tiered rating system used on most of Wall Street.

What's Happening With Hexo Corp Stock Today?

Hexo Corp (HEXO) stock is trading at $0.24 as of 10:47 AM on Friday, May 27, a drop of -$0.01, or -5.26% from the previous closing price of $0.26. The stock has traded between $0.24 and $0.26 so far today. Volume today is less active than usual. So far 4,015,950 shares have traded compared to average volume of 7,836,805 shares. Click Here to get the full Stock Report for Hexo Corp stock.