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HEXO Corp. (HEXO) – Don’t Be So Quick to Call it Dead

113 institutions hold shares in HEXO Corp. (HEXO), with 6.38M shares held by insiders accounting for 5.21% while institutional investors hold 10.47% of the company’s shares. The shares outstanding are 122.39M, and float is at 116.04M with Short Float at 8.22%. Institutions hold 9.93% of the Float.

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The top institutional shareholder in the company is ETF Managers Group, LLC with over 9.65 million shares valued at $35.5 million. The investor’s holdings represent 7.88% of the HEXO Shares outstanding. As of Dec 30, 2020, the second largest holder is Millennium Management LLC with 0.69 million shares valued at $2.54 million to account for 0.56% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 0.64 million shares representing 0.52% and valued at over $2.35 million, while Mirae Asset Global Investments Co., Ltd. holds 0.42% of the shares totaling 0.51 million with a market value of $1.88 million.

HEXO Corp. (NYSE: HEXO) is 72.55% higher on its value in year-to-date trading and has touched a low of $1.60 and a high of $11.04 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HEXO stock was last observed hovering at around $6.34 in the last trading session, with the day’s gains setting it 0.01% off its average median price target of $7.94 for the next 12 months. It is also 43.61% off the consensus price target high of $11.26 offered by 13 analysts, but current levels are -183.48% lower than the price target low of $2.24 for the same period.

Currently trading at $6.35, the stock is -9.77% and -13.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.5 million and changing 0.16% at the moment leaves the stock 49.56% off its SMA200. HEXO registered 45.64% gain for a year compared to 6-month gain of 141.11%. The firm has a 50-day simple moving average (SMA 50) of $7.50 and a 200-day simple moving average (SMA200) of $4.85.

The stock witnessed a -9.16% loss in the last 1 month and extending the period to 3 months gives it a 56.40%, and is -10.06% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.28% over the week and 8.99% over the month.

Distance from 52-week low is 296.87% and -42.48% from its 52-week high.

HEXO Corp. (HEXO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for HEXO Corp. (HEXO) is a “Hold”. 13 analysts offering their recommendations for the stock, where 9 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

HEXO Corp. is expected to release its quarterly report on 06/17/2021..

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