HEXO (HEXO - Free Report) closed at $0.70 in the latest trading session, marking a +1.45% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.27%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.87%.
Prior to today's trading, shares of the cannabis producer had lost 14.82% over the past month. This has lagged the Medical sector's loss of 0.54% and the S&P 500's gain of 0.37% in that time.
HEXO will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.03, up 72.73% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.90 million, up 60.31% from the year-ago period.
Any recent changes to analyst estimates for HEXO should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HEXO is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.