HEXO Corp. (NYSE:HEXO) price on Friday, Nov 20, dropped -2.09% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.71.
A look at the stock’s price movement, the close during the last trading session was $0.7211, moving within a range at $0.7050 and $0.7268. Turning to its 52-week performance, $2.538 and $0.346 were the 52-week high and 52-week low respectively. Overall, HEXO moved -5.23% over the past month.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HEXO is a Hold. On the other hand, the stock is on average a Hold as suggested by medium term while long term indicators are putting the stock in 50% Sell category.
16 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 1 recommend HEXO as a Buy and none give it an Outperform rating. Meanwhile, none analyst(s) rate the stock as Underperform and 5 say it is a Sell. As such, the average rating for the stock is Underweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical outlook for the stock shows the PEG ratio is 0, with HEXO’s current price about -3.24% and -2.2% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.63, while 7-day volatility ratio is 4.64% and 9.28% in the 30-day chart. Further, HEXO Corp. (HEXO) has a beta value of 0, and an average true range (ATR) of 0.07. Analysts have given the company’s stock an average 52-week price target of $0.74, forecast between a low of $0.45 and high of $1.31. Looking at the price targets, the low is -36.62% off current price level while to achieve the yearly target high price needs to move +84.51%. Nonetheless, investors will most likely welcome a +5.63% jump to $0.75 that is the analysts’ median price.
If we refocus on HEXO Corp. (NYSE:HEXO), historical trading data shows that trading volumes averaged 11.89 Million over the past 10 days and 9.25 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 483.44 Million shares.
As per Thomson Reuters, 5.38% of HEXO Corp.’s shares are in the hands of company insiders while institutional holders own 10.05% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 14.67 Million on October 29, 2020, giving us a short ratio of 2.24. The data shows that as of October 29, 2020 short interest in HEXO Corp. (HEXO) stood at 3.03% of shares outstanding, with shares short dropping from 19.15 Million registered in September. Today’s price change has pushed the stock -54.65% YTD, which shows the risk of further decline is there. It is this reason that could see investor optimism for the HEXO stock might rise going into the next quarter.