Time New York: Wed 18 Sep 19:50 pm  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

HEXO Catches Eye: Stock Jumps 6.6%

Zacks

HEXO Corp. HEXO was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $5.26 –$6.00 in the past one-month time frame, witnessed a sharp increase yesterday.

The upside came after the company has entered into an agreement to buy Newstrike in an all-stock transaction for roughly $263 million.

The company has seen a mixed track record when it comes to estimate revisions of no increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

HEXO currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Investors interested in the Medical – Products industry may consider Bio-Rad Laboratories, Inc. BIO, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is HEXO going up? Or down? Predict to see what others think:Up or Down


Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.