Hexo Corp (HEXO) Falls Tuesday, But Analysts Call It A Buy: Will This Pot Stock Take Off?

Tuesday, November 16, 2021 02:36 PM | InvestorsObserver Analysts

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Hexo Corp (HEXO) Falls Tuesday, But Analysts Call It A Buy: Will This Pot Stock Take Off?

HEXO, a player in the cannabis market, is lower by 0.9% Tuesday as it underperforms the market as a whole. InvestorsObserver is giving Hexo Corp (HEXO) an Analyst Rating Rank of 13, meaning HEXO is ranked higher by analysts than 13% of stocks. The average price target for HEXO is $2.906 and analyst’s rate the stock as a Buy.

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?

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 $1.65 as of 2:34 PM on Tuesday, Nov 16, a decline of -$0.01, or -0.9% from the previous closing price of $1.66. The stock has traded between $1.56 and $1.66 so far today. Volume today is 9,525,567 compared to average volume of 10,738,467. Click Here to get the full Stock Report for Hexo Corp stock.