HEXO Corp. (HEXO) Volatility Spurs A Quest For Clarity


With over 6.27 million HEXO Corp. (HEXO) shares trading Tuesday and a closing price of $0.70 on the day, the dollar volume was approximately $4.39 million. The shares have shown a negative weekly performance of -2.49% and its price on 09/01/20 lost nearly -2.70%. Currently, there are 480.72M common shares owned by the public and among those 325.08M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for HEXO have a consensus price objective of $0.91. The analysts have set the share’s price value over the next 12 months at a high of $1.84 and a low of $0.57 should the stock experience a downside. But an upside of 61.96% will see the stock hit the forecast high price target while mean target price for the stock is $0.86.

The top 3 mutual fund holders in HEXO Corp. are ETFMG Alternative Harvest ETF, Horizons Medical Marijuana Life S, and Global X Cannabis ETF. ETFMG Alternative Harvest ETF owns 21.87 million shares of the company’s stock, all valued at over $14.77 million. The company bought an additional 49262.0 shares recently to bring their total holdings to about 5.35% of the shares outstanding. Global X Cannabis ETF now owns shares totaling to 0.23% of the shares outstanding.

Shares of HEXO Corp. (NYSE: HEXO) opened at $0.7133, down -$0.01 from a prior closing price of $0.72. However, the script later closed the day at $0.70, down -2.70%. The company’s stock has a 5-day price change of -2.49% and 1.33% over the past three months. HEXO shares are trading -55.99% year to date (YTD), with the 12-month market performance down to -83.22% lower. It has a 12-month low price of $0.35 and touched a high of $4.75 over the same period. Currently, 6.27 million shares have been traded, compared to an average intraday trading volume of 15.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.01%, -3.14%, and -33.50% respectively.

Institutional ownership of HEXO Corp. (NYSE: HEXO) shares accounts for 13.61% of the company’s 480.72M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $336.41M. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.33% over the week and 4.74% over the month.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 9 of the 15 advise that investors “hold,” and 5 rated it as a “Sell.”

Looking at the support for the HEXO, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on July 22, 2020, with the firm’s price target at. Bryan Garnier coverage for the HEXO Corp. (HEXO) stock in a research note released on July 01, 2020 offered a Sell rating with a price target of. BMO Capital Markets was of a view on June 29, 2020 that the stock is Market Perform, while BofA/Merrill gave the stock Underperform rating on March 31, 2020, issuing a price target of. Desjardins on their part issued Hold rating on March 31, 2020.


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