HEXO closed at $7.80 in the latest trading session, marking a -0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.57%.
Heading into today, shares of the cannabis producer had gained 63.73% over the past month, outpacing the Medical sector's gain of 4.66% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from HEXO as it approaches its next earnings report date. The company is expected to report EPS of -$0.06, up 81.25% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.29 million, up 96.17% from the year-ago period.
HEXO's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $104.56 million. These results would represent year-over-year changes of +81.25% and +73.55%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HEXO is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 13% 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.
To follow HEXO in the coming trading sessions, be sure to utilize Zacks.com.
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HEXO (HEXO) Stock Sinks As Market Gains: What You Should Know
HEXO closed at $7.80 in the latest trading session, marking a -0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.57%.
Heading into today, shares of the cannabis producer had gained 63.73% over the past month, outpacing the Medical sector's gain of 4.66% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from HEXO as it approaches its next earnings report date. The company is expected to report EPS of -$0.06, up 81.25% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.29 million, up 96.17% from the year-ago period.
HEXO's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $104.56 million. These results would represent year-over-year changes of +81.25% and +73.55%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HEXO is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 13% 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.
To follow HEXO in the coming trading sessions, be sure to utilize Zacks.com.