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

Thursday, August 18, 2022 01:08 PM | InvestorsObserver Analysts

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

HEXO, a player in the cannabis market, is lower by 7.95% Thursday as it underperforms the market as a whole. Wall Street is positive on Hexo Corp (HEXO). On average, analysts give Hexo Corp a Hold rating. The average price target is $0.195, which means analysts expect the stock to decrease by -18.75% over the next twelve months. That average ranking earns Hexo Corp an Analyst Rating of 2, which is better than 2% of stocks based on data compiled by InvestorsObserver.

Wall Street analysts are rating HEXO a Hold 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?

Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions before a quarterly report that could be worse than expected. InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.

What's Happening With Hexo Corp Stock Today?

Hexo Corp (HEXO) stock is trading at $0.24 as of 1:08 PM on Thursday, Aug 18, a drop of -$0.02, or -7.95% from the previous closing price of $0.26. The stock has traded between $0.24 and $0.27 so far today. Volume today is low. So far 4,269,262 shares have traded compared to average volume of 10,621,663 shares. Click Here to get the full Stock Report for Hexo Corp stock.