HEXO (HEXO) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research - finance.yahoo.com Posted 5 years ago
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HEXO (HEXO) closed at $6.86 in the latest trading session, marking a -1.86% move from the prior day.
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HEXO (HEXO) closed at $6.86 in the latest trading session, marking a -1.86% move from the prior day. This change lagged the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, lost 0.45%.

Heading into today, shares of the cannabis producer had lost 0.14% over the past month, lagging the Medical sector's gain of 3.34% and outpacing the S&P 500's loss of 1.21% in that time.

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

Investors might also notice 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 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 5.5% higher within the past month. 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 99, putting it in the top 39% 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.


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