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MKM Partners Maintains Their Hold Rating on HEXO (HEXO)

MKM Partners analyst William Kirk maintained a Hold rating on HEXO (HEXOResearch Report) today and set a price target of C$0.25. The company’s shares closed last Thursday at $0.20, close to its 52-week low of $0.20.

According to TipRanks.com, Kirk has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.9% and a 39.5% success rate. Kirk covers the Consumer Goods sector, focusing on stocks such as Constellation Brands, Albertsons Companies, and United Natural Foods.

The word on The Street in general, suggests a Hold analyst consensus rating for HEXO with a $0.39 average price target, representing a 92.5% upside. In a report released yesterday, Alliance Global Partners also downgraded the stock to Hold with a C$0.30 price target.

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Based on HEXO’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $52.76 million and GAAP net loss of $711 million. In comparison, last year the company earned revenue of $32.88 million and had a GAAP net loss of $20.84 million.

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HEXO Corp. engages in the manufacture, production, and distribution of medicinal marijuana. It offers products through the Time of Day, H2, Decarb, and Exlixir No. 1 brands. 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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