Market cap of HEXO Corp. [HEXO] reaches 720.85M – now what?

HEXO Corp. [NYSE: HEXO] price plunged by -1.01 percent to reach at -$0.06. The company report on June 14, 2021 that HEXO Corp Reports Third Quarter Fiscal 2021 Financial Results.

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HEXO Corp. (TSX: HEXO; NYSE: HEXO) (“HEXO” or the “Company”) reported its financial results for the third quarter fiscal 2021 ended April 30, 2021 (“3Q21”). All amounts are expressed in Canadian dollars unless otherwise noted.

“At the advent of legalization, we articulated a plan to become a top three cannabis player in the Canadian adult-use market. With the acquisition of Zenabis and the announcements of intent to acquire 48North and Redecan, we are on the verge of surpassing that objective to become the no.1 licensed producer by recreational market share,” said HEXO CEO and co-founder Sebastien St-Louis. “While this was a challenging quarter, we maintained our number one position in the beverage category and increased our net sales outside of Quebec by 169% over last year, including 14% sequential quarterly growth in Ontario, while continuing to maintain our number one position as the preferred supplier to Quebec. Moving forward, we are committed to rebuilding our strain strategy and brand mix in the province of Quebec to ensure we meet consumer needs and maintain our dominant position in the province.”.

A sum of 3952433 shares traded at recent session while its average daily volume was at 3.69M shares. HEXO Corp. shares reached a high of $5.96 and dropped to a low of $5.73 until finishing in the latest session at $5.89.

Guru’s Opinion on HEXO Corp. [HEXO]:

BMO Capital Markets have made an estimate for HEXO Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 22, 2021. The new note on the price target was released on February 17, 2021, representing the official price target for HEXO Corp. stock.

The Average True Range (ATR) for HEXO Corp. is set at 0.41, with the Price to Sales ratio for HEXO stock in the period of the last 12 months amounting to 6.46. The Price to Book ratio for the last quarter was 1.33.

HEXO Stock Performance Analysis:

HEXO Corp. [HEXO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.01. With this latest performance, HEXO shares dropped by -2.32% in over the last four-week period, additionally plugging by 45.79% over the last 6 months – not to mention a rise of 57.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HEXO stock in for the last two-week period is set at 40.12, with the RSI for the last a single of trading hit 33.30, and the three-weeks RSI is set at 43.52 for HEXO Corp. [HEXO]. The present Moving Average for the last 50 days of trading for this stock 6.30, while it was recorded at 6.25 for the last single week of trading, and 5.18 for the last 200 days.

Insight into HEXO Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and HEXO Corp. [HEXO] shares currently have an operating margin of -244.85 and a Gross Margin at -120.50. HEXO Corp.’s Net Margin is presently recorded at -676.48.

Return on Total Capital for HEXO is now -26.97, given the latest momentum, and Return on Invested Capital for the company is -76.72. Return on Equity for this stock declined to -81.50, with Return on Assets sitting at -69.55. When it comes to the capital structure of this company, HEXO Corp. [HEXO] has a Total Debt to Total Equity ratio set at 15.91. Additionally, HEXO Total Debt to Total Capital is recorded at 13.72, with Total Debt to Total Assets ending up at 12.70. Long-Term Debt to Equity for the company is recorded at 9.64, with the Long-Term Debt to Total Capital now at 8.31.

Reflecting on the efficiency of the workforce at the company, HEXO Corp. [HEXO] managed to generate an average of -$684,823 per employee. Receivables Turnover for the company is 1.91 with a Total Asset Turnover recorded at a value of 0.10.

HEXO Corp. [HEXO] Insider Position Details

There are presently around $92 million, or 17.06% of HEXO stock, in the hands of institutional investors. The top three institutional holders of HEXO stocks are: ETF MANAGERS GROUP, LLC with ownership of 9,862,329, which is approximately 2.229% of the company’s market cap and around 4.93% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 1,158,970 shares of the stock with an approximate value of $6.83 million in HEXO stocks shares; and D. E. SHAW & CO., INC., currently with $4.06 million in HEXO stock with ownership of nearly New of the company’s market capitalization.

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Positions in HEXO Corp. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 64 institutional holders increased their position in HEXO Corp. [NYSE:HEXO] by around 3,687,976 shares. Additionally, 37 investors decreased positions by around 1,833,608 shares, while 25 investors held positions by with 10,075,393 shares. The mentioned changes placed institutional holdings at 15,596,977 shares, according to the latest SEC report filing. HEXO stock had 39 new institutional investments in for a total of 2,125,712 shares, while 22 institutional investors sold positions of 1,522,009 shares during the same period.

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