Barclays PLC Invests $3.21 Million in HEXO Corp. (NASDAQ:HEXO)
Barclays PLC purchased a new position in shares of HEXO Corp. (NASDAQ:HEXO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 811,346 shares of the company’s stock, valued at approximately $3,213,000.
Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its position in shares of HEXO by 39.2% during the second quarter. CIBC Asset Management Inc now owns 217,335 shares of the company’s stock worth $1,160,000 after purchasing an additional 61,220 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of HEXO in the 2nd quarter valued at $140,000. BNP Paribas Arbitrage SA acquired a new position in shares of HEXO in the 2nd quarter valued at $532,000. Cetera Advisor Networks LLC acquired a new position in shares of HEXO in the 2nd quarter valued at $142,000. Finally, Signition LP increased its position in shares of HEXO by 56.1% in the 3rd quarter. Signition LP now owns 49,000 shares of the company’s stock valued at $194,000 after acquiring an additional 17,600 shares during the period.
HEXO has been the topic of several research reports. AltaCorp Capital downgraded HEXO from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 29th. Eight Capital downgraded HEXO from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 30th. Roth Capital cut their target price on HEXO from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. CIBC downgraded HEXO from a “neutral” rating to a “sector underperform” rating and cut their target price for the company from $4.00 to $3.00 in a research report on Friday, October 25th. Finally, Beacon Securities downgraded HEXO from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.52.
HEXO (NASDAQ:HEXO) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $11.31 million.
HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.
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