Echelon Wealth Partners Remains a Buy on Indiva (NDVAF)

In a report released today, Andrew Semple from Echelon Wealth Partners reiterated a Buy rating on Indiva (NDVAFResearch Report), with a price target of C$0.50. The company’s shares closed last Monday at $0.13, close to its 52-week low of $0.11.

According to TipRanks.com, Semple is a 1-star analyst with an average return of -1.9% and a 22.1% success rate. Semple covers the Basic Materials sector, focusing on stocks such as Ascend Wellness Holdings LLC, Fire & Flower Holdings, and Green Thumb Industries.

Currently, the analyst consensus on Indiva is a Moderate Buy with an average price target of $0.43.

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Based on Indiva’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.95 million and GAAP net loss of $3.03 million. In comparison, last year the company earned revenue of $6.22 million and had a GAAP net loss of $3.03 million.

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Indiva Ltd. engages in the construction of a medical marijuana facility. It offers dried cannabis flower, chocolate, accessories, and oil. The company was founded by Niel Marotta and Koby Smutylo on May 12, 2015 and is headquartered in Ottawa, Canada.

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