Pot Stock Hexo Corp (HEXO) Drops 3.86% Friday; Analysts Call It A Buy, Are They Wrong?

Friday, August 13, 2021 01:32 PM | InvestorsObserver Analysts

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Pot Stock Hexo Corp (HEXO) Drops 3.86% Friday; Analysts Call It A Buy, Are They Wrong?

Hexo Corp is a player in the cannabis industry that is lower by 3.86% Friday. Analysts who follow Hexo Corp (HEXO) on average expect it to increase 96.99% over the next twelve months. Those same analysts give the stock an average rating of Buy. That average rating earns HEXO an Analyst Ranking of 13, which means it ranks higher than 13 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?

Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers. InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.

What's Happening With Hexo Corp Stock Today?

Hexo Corp (HEXO) stock is trading at $3.49 as of 1:31 PM on Friday, Aug 13, a decline of -$0.14, or -3.86% from the previous closing price of $3.63. The stock has traded between $3.49 and $3.71 so far today. Volume today is light. So far 2,106,581 shares have traded compared to average volume of 3,650,434 shares. Click Here to get the full Stock Report for Hexo Corp stock.