Back to top

HEXO (HEXO) Stock Sinks As Market Gains: What You Should Know

Read MoreHide Full Article

HEXO (HEXO - Free Report) closed the most recent trading day at $7.15, moving -1.11% from the previous trading session. This change lagged the S&P 500's daily gain of 0.89%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq gained 0.97%.

Heading into today, shares of the cannabis producer had gained 8.72% over the past month, outpacing the Medical sector's loss of 2.64% and the S&P 500's loss of 1.68% in that time.

HEXO will be looking to display strength as it nears its next earnings release.

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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 4.64% higher within the past month. HEXO is currently sporting a Zacks Rank of #4 (Sell).

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

HEXO Corp. (HEXO) - free report >>

More from Zacks Tale of the Tape

You May Like

Published in