CIBC lifts HEXO Corp. [HEXO] price estimate. Who else is bullish?



HEXO Corp. [NASDAQ: HEXO] plunged by -$0.02 during the normal trading session on Monday and reaching a high of $0.6826 during the day while it closed the day at $0.65. The company report on January 5, 2022 that HEXO Announces the Appointment of a New Board Member and Acting CFO.

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 11, 2021 to its short form base shelf prospectus dated May 7, 2021 and amended and restated on May 25, 2021.

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HEXO Corp (“HEXO”, or the “Company”) (TSX: HEXO; NASDAQ: HEXO), today announced the appointment of William Todd Montour to the Company’s Board of Directors following the resignation of Jason Ewart, effective immediately.

HEXO Corp. stock has also loss -11.58% of its value over the past 7 days. However, HEXO stock has declined by -61.78% in the 3 months of the year. Over the past six months meanwhile, it has lost -86.90% and lost -7.00% year-on date.

The market cap for HEXO stock reached $291.93 million, with 355.76 million shares outstanding and 334.60 million shares in the current float. Compared to the average trading volume of 10.10M shares, HEXO reached a trading volume of 6189874 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about HEXO Corp. [HEXO]:

CIBC have made an estimate for HEXO Corp. shares, keeping their opinion on the stock as Sector Underperform, with their previous recommendation back on December 15, 2021. The new note on the price target was released on March 22, 2021, representing the official price target for HEXO Corp. stock.

The Average True Range (ATR) for HEXO Corp. is set at 0.06, with the Price to Sales ratio for HEXO stock in the period of the last 12 months amounting to 2.02. The Price to Book ratio for the last quarter was 0.15.

HEXO stock trade performance evaluation

HEXO Corp. [HEXO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.58. With this latest performance, HEXO shares dropped by -36.29% in over the last four-week period, additionally sinking by -86.90% over the last 6 months – not to mention a drop of -87.16% 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 28.54, with the RSI for the last a single of trading hit 26.57, and the three-weeks RSI is set at 30.17 for HEXO Corp. [HEXO]. The present Moving Average for the last 50 days of trading for this stock 1.0815, while it was recorded at 0.6715 for the last single week of trading, and 3.5622 for the last 200 days.

HEXO Corp. [HEXO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and HEXO Corp. [HEXO] shares currently have an operating margin of -76.71 and a Gross Margin at -8.76. HEXO Corp.’s Net Margin is presently recorded at -92.72.

Return on Total Capital for HEXO is now -10.13, given the latest momentum, and Return on Invested Capital for the company is -16.25. Return on Equity for this stock declined to -17.88, with Return on Assets sitting at -11.45. When it comes to the capital structure of this company, HEXO Corp. [HEXO] has a Total Debt to Total Equity ratio set at 68.23. Additionally, HEXO Total Debt to Total Capital is recorded at 40.56, with Total Debt to Total Assets ending up at 37.98. Long-Term Debt to Equity for the company is recorded at 10.30, with the Long-Term Debt to Total Capital now at 6.12.

Reflecting on the efficiency of the workforce at the company, HEXO Corp. [HEXO] managed to generate an average of -$89,868 per employee. Receivables Turnover for the company is 2.84 with a Total Asset Turnover recorded at a value of 0.12.HEXO Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.00.

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HEXO Corp. [HEXO]: Insider Ownership positions

There are presently around $25 million, or 14.57% 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 13,217,945, which is approximately 0.299% of the company’s market cap and around 3.51% of the total institutional ownership; MORGAN STANLEY, holding 5,353,179 shares of the stock with an approximate value of $3.48 million in HEXO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $2.62 million in HEXO stock with ownership of nearly New of the company’s market capitalization.

Positions in HEXO Corp. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 53 institutional holders increased their position in HEXO Corp. [NASDAQ:HEXO] by around 16,698,039 shares. Additionally, 42 investors decreased positions by around 5,243,834 shares, while 32 investors held positions by with 16,191,459 shares. The mentioned changes placed institutional holdings at 38,133,332 shares, according to the latest SEC report filing. HEXO stock had 18 new institutional investments in for a total of 4,842,492 shares, while 20 institutional investors sold positions of 1,150,603 shares during the same period.