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Thursday, December 3, 2020

HEXO Corp. (NYSE:HEXO) is Gaining Momentum on Earnings Catalyst

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HEXO Corp. (HEXO) shares are trading at lower $0.70.

To add more color to this target, the company’s high over the last year is $4.75 and the low is $0.35. Over the last 52 weeks, HEXO is down -82.60% while the S&P 500 is up 20.39%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. HEXO has a short ratio of 1.86 and outstanding shares of 480.72M.

Company Outlook

HEXO has seen increased volume after this news and investors are putting their support behind the value proposition. Investors should also keep an eye on sector updates as HEXO has historically followed its peers on positive news.

All told, HEXO Corp. HEXO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, HEXO represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

HEXO Corp. HEXO is now commanding a market cap of 335.35M and a float of 325.08M. HEXO is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of HEXO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in HEXO, either long or short, and we have not been compensated for this article.

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