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Pot Stock Hexo Corp (HEXO) Drops 3.33% Thursday; Analysts Call It A Buy, Are They Wrong?

Thursday, September 16, 2021 02:09 PM | InvestorsObserver Analysts

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Pot Stock Hexo Corp (HEXO) Drops 3.33% Thursday; Analysts Call It A Buy, Are They Wrong?

Pot stock HEXO is falling back to earth Thursday, decreasing 3.33%. Analysts who follow Hexo Corp (HEXO) on average expect it to climb 127.09% over the next twelve months. Those same analysts give the stock an average rating of Buy. That average rating earns the stock an Analyst Ranking of 13, which means it ranks higher than 13 of stocks, based on data compiled by InvestorsObserver.

Overall Score - 3.3
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!

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 $2.03 as of 2:08 PM on Thursday, Sep 16, a drop of -$0.07, or -3.33% from the previous closing price of $2.10. The stock has traded between $2.02 and $2.14 so far today. Volume today is less active than usual. So far 4,226,374 shares have traded compared to average volume of 8,203,890 shares. Click Here to get the full Stock Report for Hexo Corp stock.

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