Why did hExo stock drop 25% This Morning?
Apr 16, 2021 · Shares of HEXO ( HEXO -5.12% ) dropped on Friday after the company filed to potentially do a significant capital raise. The stock has gained 50% year to date, and is 175% higher than one year ago....
What does hExo’s announcement mean for investors?
Dec 15, 2021 · In twin reports this morning, CIBC downgraded Hexo stock to a sell with a price target of just $0.62 per share, and Canaccord cut its price target on Hexo in half -- to $0.77 -- …
Did hExo raise capital after surging 75% year-to-date?
Jun 14, 2021 · The Motley Fool recommends HEXO Corp. The Motley Fool has a disclosure policy . The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect ...
Is hExo the best cannabis stock to buy in 2021?
Oct 29, 2021 · Reporting on its fiscal fourth-quarter and full-year 2021 results, Hexo noted that sales grew 43% year over year for the quarter ($38.7 million Canadian dollars) and 53% for the year (C$123.5 ...
What is the prediction for HEXO stock?
Stock Price Forecast The 5 analysts offering 12-month price forecasts for Hexo Corp have a median target of 0.59, with a high estimate of 0.79 and a low estimate of 0.42. The median estimate represents a +12.71% increase from the last price of 0.53.
Is HEXO stock a good investment?
During the day the stock fluctuated 6.99% from a day low at $0.52 to a day high of $0.56. The price has fallen in 7 of the last 10 days and is down by -14.7% for this period....Predicted Opening Price for HEXO Corp. of Monday, April 18, 2022.Fair opening price April 18, 2022Current price$0.54$0.53 (Undervalued)
Is HEXO a buy right now?
Is HEXO a buy right now? 8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for HEXO in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" HEXO stock.
Should I hold or sell HEXO?
The consensus among Wall Street research analysts is that investors should "hold" HEXO stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HEXO, but not buy additional shares or sell existing shares.
Is HEXO stock a good buy 2022?
Is HEXO Stock a good buy in 2022, according to Wall Street analysts? The consensus among 1 Wall Street analyst covering (NASDAQ: HEXO) stock is to Hold HEXO stock.
Is HEXO a buy Zacks?
How good is it? See rankings and related performance below. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return2Buy18.44%3Hold9.99%4Sell5.61%5Strong Sell2.64%2 more rows
Will Tilray go up?
That means that it is possible for Tilray to reach $4 billion in 2024 if its trajectory continues as it has. In other words, it doubles in 2022 to reach $1 billion in revenue. That $1 doubles again in 2023, reaching $2 billion, and then again in 2024 to hit the stated $4 billion goal.Jan 4, 2022
How much is HEXO debt?
Pot producer Tilray to buy rival Hexo's remaining debt of $193 mln.4 days ago
Who owns HEXO?
Largest shareholders include MJ - ETFMG Alternative Harvest ETF, Etf Managers Group, Llc, Scotia Capital Inc., Morgan Stanley, Renaissance Technologies Llc, Hudson Bay Capital Management LP, Mirae Asset Global Investments Co., Ltd., POTX - Global X Cannabis ETF, Susquehanna International Group, Llp, and Group One ...
Wall Street warns of an impending crisis at Hexo
What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Marijuana investors are in a funk today, as shares of Hexo ( NASDAQ:HEXO) drop 9.7%, Aurora Cannabis ( NASDAQ:ACB) declines 7.2%, and Sundial Growers ( NASDAQ:SNDL) falls 5.5%, as of 12:40 p.m. ET. There's a reason why Hexo stock is down so much more than the others, too.
Now what
And when I say "Wall Street," I mean investment banks CIBC and Canaccord Genuity. In twin reports this morning, CIBC downgraded Hexo stock to a sell with a price target of just $0.62 per share, and Canaccord cut its price target on Hexo in half -- to $0.77 -- says The Fly.
What happened?
Such massive stock dilution easily explains why investors are panicking over Hexo stock today. But is the situation as bad at Aurora Cannabis and Sundial Growers? Are the sell-offs at those stocks justified as well?
So what?
The small-cap stock continued to drop since announcing its losses late last year and even since appointing a new chief financial officer at the beginning of 2022. Hexo announced a loss of $116.9 million in the first quarter, along with a “new strategic plan” to reduce costs and create synergies.
Now what?
While Hexo management has moved on, investors it seems have as well. Hexo right now looks like a loss at a time when investors aren’t looking for risk in their portfolio. The company didn’t maintain internal control over financial reporting, and that has to change.
Stock Advisor Canada Returns
Let’s say Hexo checks all of these boxes. Is it still the cannabis company you want in your portfolio long term? Probably not. Supply and demand remain an incredible problem for cannabis companies. Meanwhile, the days of unprofitable marijuana companies should soon be over. Whether that means Hexo is purchased or collapses remains to be seen.
What happened
Returns since inception, October 2013. Current as of February 25, 2022.
So what
Marijuana stocks are in trouble Friday, as shares of Canadian cannabis company Hexo (NASDAQ: HEXO) tumbled 7% by 11 a.m. EDT after it reported yet another money-losing quarter.
Now what
Reporting on its fiscal fourth-quarter and full-year 2021 results, Hexo noted that sales grew 43% year over year for the quarter ($38.7 million Canadian dollars) and 53% for the year (C$123.5 million). Hexo boasted that this made fiscal Q4 2021 its "best quarter of sales to date."
What happened?
Hexo didn't go into much detail on the loss, preferring to keep the focus on its growing sales, but investors seem to have noticed.
So what?
Ottawa-based cannabis giant HEXO has had an impressive run this year. Over the first half of 2021, the stock surged roughly 75%. It’s still nowhere close to its all-time high of $31, but this rebound served as a reprieve for long-term shareholders.
Now what?
It’s worth noting that the company’s “context of the market” stipulation means they’re going to try to get the best price for their stock. I can’t predict the future, but I believe the recent drop may encourage the team to hold off from issuing units at this current lower price. The smartest move is to wait for investor sentiment to recover.
More on Cannabis Stocks
HEXO stock has dropped 25% this morning. The management team has announced a share sale at an unknown price and quantity. That means investors face dilution that they can’t measure yet.
Stock Advisor Canada Returns
Despite the concerns over rising inflation and the expectation of the U.S. Federal Reserve raising interest rates, the S&P/TSX Composite …
What happened?
Returns since inception, October 2013. Current as of February 10, 2022.
So what?
Ottawa-based cannabis giant HEXO has had an impressive run this year. Over the first half of 2021, the stock surged roughly 75%. It’s still nowhere close to its all-time high of $31, but this rebound served as a reprieve for long-term shareholders.
What happened
It’s worth noting that the company’s “context of the market” stipulation means they’re going to try to get the best price for their stock. I can’t predict the future, but I believe the recent drop may encourage the team to hold off from issuing units at this current lower price. The smartest move is to wait for investor sentiment to recover.
So what
Shares of Hexo Corp (NYSEMKT: HEXO) dropped 8.5% in Thursday trading after the Canadian producer of marijuana in dried, oil, and powder forms reported fiscal Q3 2019 earnings that "beat" expectations -- but sales that fell short.
Now what
While sales may not have quite met expectations, they were still up dramatically year over year -- nearly 1,000%, when compared to the CA$1.2 million in "net revenue from sale of goods" that Hexo reported in the year-ago quarter. Sales may have been impacted by falling prices for marijuana in Canada.