HEXO closed the most recent trading day at $7.83, moving +0.06% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.57%.
Prior to today's trading, shares of the cannabis producer had gained 17.07% over the past month. This has outpaced the Medical sector's loss of 4.67% and the S&P 500's gain of 4% in that time.
Wall Street will be looking for positivity from HEXO as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for HEXO. Recent revisions tend to reflect the latest 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.75% lower within the past month. HEXO is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts 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.
To follow HEXO in the coming trading sessions, be sure to utilize Zacks.com.
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HEXO (HEXO) Gains As Market Dips: What You Should Know
HEXO closed the most recent trading day at $7.83, moving +0.06% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.57%.
Prior to today's trading, shares of the cannabis producer had gained 17.07% over the past month. This has outpaced the Medical sector's loss of 4.67% and the S&P 500's gain of 4% in that time.
Wall Street will be looking for positivity from HEXO as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for HEXO. Recent revisions tend to reflect the latest 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.75% lower within the past month. HEXO is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts 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.
To follow HEXO in the coming trading sessions, be sure to utilize Zacks.com.