HEXO Corp. [HEXO] is -73.49% lower this YTD. Is it still time to buy?

HEXO Corp. [NASDAQ: HEXO] traded at a high on 11/14/22, posting a 0.38 gain after which it closed the day’ session at $0.19. The company report on November 1, 2022 that HEXO Issues Correction to Press Release Announcing Q4’22 and FY22 Financial Results.

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This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 2, 2022 to its short form base shelf prospectus dated May 7, 2021 and amended and restated on May 25, 2021.

The results of the trading session contributed to over 6358184 shares changing hands. Over the past one week, the price volatility of HEXO Corp. stands at 6.71% while the volatility over the past one month is 6.21%.

The market cap for HEXO stock reached $110.72 million, with 516.78 million shares outstanding and 302.84 million shares in the current float. Compared to the average trading volume of 6.56M shares, HEXO reached a trading volume of 6358184 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about HEXO Corp. [HEXO]?

Canaccord Genuity have made an estimate for HEXO Corp. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $1.07 to $0.53. The new note on the price target was released on January 27, 2022, representing the official price target for HEXO Corp. stock.

The Average True Range (ATR) for HEXO Corp. is set at 0.01, with the Price to Sales ratio for HEXO stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 0.14.

How has HEXO stock performed recently?

HEXO Corp. [HEXO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.32. With this latest performance, HEXO shares gained by 8.62% in over the last four-week period, additionally sinking by -41.24% over the last 6 months – not to mention a drop of -89.71% 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 52.89, with the RSI for the last a single of trading hit 56.88, and the three-weeks RSI is set at 50.47 for HEXO Corp. [HEXO]. The present Moving Average for the last 50 days of trading for this stock 0.1837, while it was recorded at 0.1811 for the last single week of trading, and 0.3299 for the last 200 days.

HEXO Corp. [HEXO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and HEXO Corp. [HEXO] shares currently have an operating margin of -152.05 and a Gross Margin at -85.88. HEXO Corp.’s Net Margin is presently recorded at -558.65.

Return on Equity for this stock declined to -204.53, with Return on Assets sitting at -107.15.

HEXO Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

Insider trade positions for HEXO Corp. [HEXO]

There are presently around $11 million, or 10.97% 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 22,940,311, which is approximately 7.379% of the company’s market cap and around 2.73% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 13,285,252 shares of the stock with an approximate value of $2.46 million in HEXO stocks shares; and HUDSON BAY CAPITAL MANAGEMENT LP, currently with $2.29 million in HEXO stock with ownership of nearly 168.989% 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 21 institutional holders increased their position in HEXO Corp. [NASDAQ:HEXO] by around 14,757,129 shares. Additionally, 40 investors decreased positions by around 4,073,816 shares, while 44 investors held positions by with 38,554,331 shares. The mentioned changes placed institutional holdings at 57,385,276 shares, according to the latest SEC report filing. HEXO stock had 10 new institutional investments in for a total of 116,146 shares, while 15 institutional investors sold positions of 1,200,909 shares during the same period.


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