HEXO Corp. (NYSE:HEXO) shares, rose in value on Thursday, Jan 14, with the stock price up by 17.07% to the previous day’s close as strong demand from buyers drove the stock to $7.34.
Actively observing the price movement in the recent trading, the stock is buoying the session at $6.27, falling within a range of $6.61 and $7.45. The value of beta (5-year monthly) is 0 whereas the PE ratio is 0 over 12-month period. Referring to stock’s 52-week performance, its high was $8.16, and the low was $1.38. On the whole, HEXO has fluctuated by 56.75% over the past month.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HEXO’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
14 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 12 analyst(s), 1 recommend it as a Buy and no body called the HEXO stock Outperform. In the meantime, none analyst(s) believe the stock as Underperform and 1 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HEXO currently trading nearly 66.93% and 91.64% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 85.98, while the 7-day volatility ratio is showing 1306% which for the 30-day chart, stands at 8.83%. Furthermore, HEXO Corp. (HEXO)’s beta value is 0, and its average true range (ATR) is 0.46. The company’s stock has been forecasted to trade at an average price of $3.98 over the course of the next 52 weeks, with a low of $2.18 and a high of $5.48. Based on these price targets, the low is -70.3 off current price, whereas the price has to move -25.34% to reach the yearly target high. Additionally, analysts’ median price of $4.07 is likely to be welcomed by investors because it represents an increase of -44.55% from the current levels.
A comparison of HEXO Corp. (HEXO) with its peers suggests the former has fared considerably weaker in the market. HEXO showed an intraday change of +17.07% in today’s session so far, and over the past year, it dropped by -1.42%. In comparison, Abbott Laboratories (ABT) has moved lower at -1.19% today and is up +30.8% over the past 12 months. On the other hand, the price of Medtronic Inc (MDT) has fallen -0.01% today. The stock, however, is off 1.44% from where it was a year ago. Additionally, there is a gain of 1707% for Stryker Corp (SYK) in recent trading while the stock has seen an overall depriciation of -1.42% over the past year. The PE ratio stands at 0 for HEXO Corp., compared to 59.65 for Abbott Laboratories, and 45.77 for Medtronic Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.21%. Meanwhile, the Dow Jones Industrial improved by 0.37%.
Data on historical trading for HEXO Corp. (NYSE:HEXO) indicates that the trading volumes over the past 10 days have averaged 10.57 Million and over the past 3 months, they’ve averaged 5.94 Million. According to company’s latest data on outstanding shares, there are 122.16 Million shares outstanding.
Nearly 5.21% of HEXO Corp.’s shares belong to company insiders and institutional investors own 9.93% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 5.7 Million shares as on December 30, 2020, resulting in a short ratio of 0.7. According to the data, the short interest in HEXO Corp. (HEXO) stood at 4.66% of shares outstanding as of December 30, 2020; the number of short shares registered in November reached 3.15 Million. The stock has risen by +70.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HEXO stock heading into the next quarter.
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