HEXO Corp. (NYSE:HEXO – Get Rating)'s share price shot up 1.9% during trading on Tuesday . The stock traded as high as $1.62 and last traded at $1.60. 789,022 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,674,053 shares. The stock had previously closed at $1.57.

Wall Street Analysts Forecast Growth

Separately, CIBC upgraded HEXO from an "underperform" rating to a "neutral" rating in a research report on Friday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, HEXO presently has an average rating of "Hold" and a consensus target price of $12.60.

HEXO Stock Up 1.9 %

The company has a 50 day simple moving average of $1.63 and a two-hundred day simple moving average of $2.33. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $68.69 million, a P/E ratio of -0.06 and a beta of 1.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of HEXO by 48.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,622,055 shares of the company's stock valued at $1,805,000 after purchasing an additional 2,795,755 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of HEXO in the second quarter valued at approximately $796,000. Swiss National Bank lifted its holdings in HEXO by 57.7% during the first quarter. Swiss National Bank now owns 703,700 shares of the company's stock worth $433,000 after buying an additional 257,500 shares during the period. Virtu Financial LLC lifted its holdings in HEXO by 91.9% during the first quarter. Virtu Financial LLC now owns 430,007 shares of the company's stock worth $267,000 after buying an additional 205,943 shares during the period. Finally, Royal Bank of Canada lifted its holdings in HEXO by 10.9% during the first quarter. Royal Bank of Canada now owns 428,874 shares of the company's stock worth $266,000 after buying an additional 42,220 shares during the period. Institutional investors own 9.50% of the company's stock.

HEXO Company Profile

(Get Rating)

HEXO Corp. engages in the provision of cannabis and cannabis products. The company was founded by Sébastien St. Louis and Adam Miron on October 29, 2013 and is headquartered in Gatineau, Canada.

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