Cannabis Stock Drops 8.47% Tuesday; What Do Analysts Think The Future Is For Hexo Corp (HEXO)?

Tuesday, August 09, 2022 03:34 PM | InvestorsObserver Analysts

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Cannabis Stock Drops 8.47% Tuesday; What Do Analysts Think The Future Is For Hexo Corp (HEXO)?

HEXO stock is lower by 8.47% Tuesday as the cannabis stock decreases $0.02 and underperforms the market. Analysts who follow Hexo Corp (HEXO) on average expect it to lose -7.14% over the next twelve months. Those same analysts give the stock an average rating of Hold. That average rating earns the stock an Analyst Ranking of 2, which means it ranks higher 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?

Fundamental research of the underlying health of a company can be an extremely useful resource when making investment decisions. Analysts observe growth prospects and forecasted earnings of companies to gain a comprehensive view of particular industries. This data allows traders to react before numbers are officially reported. InvestorsObserver takes the ratings from these analysts and percentile ranks those aveages. This allows you to compare stocks extensively and in more detail than the common buy/hold/sell ratings.

What's Happening With Hexo Corp Stock Today?

Hexo Corp (HEXO) stock is trading at $0.21 as of 3:34 PM on Tuesday, Aug 9, a drop of -$0.02, or -8.47% from the previous closing price of $0.22. The stock has traded between $0.20 and $0.23 so far today. Volume today is light. So far 6,094,615 shares have traded compared to average volume of 11,191,729 shares. Click Here to get the full Stock Report for Hexo Corp stock.