HEXO - HEXO Corp.

NYSE - NYSE Delayed Price. Currency in USD
1.3200
-0.0100 (-0.75%)
At close: 4:02PM EST
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Previous Close1.3300
Open1.3000
Bid1.2900 x 21500
Ask0.0000 x 39400
Day's Range1.2500 - 1.3400
52 Week Range1.2500 - 8.4000
Volume7,695,359
Avg. Volume6,310,917
Market Cap374.86M
Beta (5Y Monthly)4.72
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • MarketWatch

    Hexo shares slide 3% premarket after MKM downgrades stock following breach of contract lawsuit

    Hexo Corp.'s U.S.-listed shares slid 3% in premarket trade Tuesday, after MKM downgraded the Canadian cannabis company to neutral from buy after it was sued by Medipharm Labs Corp. for breach of contract. "The hairy just got hairier," is how analyst Bill Kirk described the slate of problems facing the company. Since Hexo's chief financial officer resigned last October, the company missed on earnings and pulled guidance, it laid off employees and announced facility closures, it was found to have undisclosed illegal growing operations and it undertook dilutive equity raisings, Kirk wrote in a note to clients. The lawsuit is "the straw that has broken our back," he wrote. Court papers viewed by MarketWatch found it is being sued for the non-payment of C$9.8 million ($7.5 million) related to shipments of marijuana resin. Hexo sald Monday it intends to vigorously defend itself against the claims, without making any comment on quality or deliverables. "With a weak track record on accurately making positive predictions, it is difficult to handicap this latest issue," said the note. "Of 104 positive predictions made by HEXO over the last two years, just 3 of the 48 resolved were correct." Kirk cut his stock price target to C$1.50 from a prior C$5.00. Shares have fallen 75% in the last 12 months, while the ETFMG Alternative Harvest ETF has fallen 50% and the S&P 500 has gained 23%.

  • ACCESSWIRE

    SHAREHOLDER ALERT: ADMS HEXO FCAU: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

    NEW YORK / ACCESSWIRE / January 27, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss ...

  • MarketWatch

    Medipharm sues Hexo for $7.5 million in non-payment dispute

    Licensed cannabis producer Hexo Corp. is being sued by Medipharm Labs Inc. for the non-payment of C$9.8 million ($7.5 million) related to shipments of marijuana resin, according to court papers reviewed by MarketWatch late Monday. Cannabis extractor Medipharm inked a resin supply deal with Hexo subsidiaries last year, but Hexo refused to pay for an October 2019 shipment, among other things, according to the lawsuit. Medipharm also said in the suit that Hexo has further failed to pay for "contractual obligations" for November, December and January. In a statement, Medipharm said it does not comment on pending litigation, though Medipharm made the grievance public Friday without naming the defendant in the suit. In an emailed statement, Hexo said the litigation involves a deal signed between two subsidiaries before they were acquired by Hexo and that they had serious concerns about the agreement. Medipharm stock fell 18.6% in regular trading Monday, as Hexo stock closed down 5.7%. The ETFMG Alternative Harvest ETF , which tracks a basket of pot stocks, fell 3.3% Monday.

  • GlobeNewswire

    SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in HEXO Corporation of Class Action Lawsuit and Upcoming Deadline – HEXO

    Pomerantz LLP announce that a class action lawsuit has been filed against HEXO Corporation (“HEXO” or the “Company”) (NYSE: HEXO) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 20-cv-00196, is on behalf of a class consisting of investors who purchased or otherwise acquired HEXO securities between January 25, 2019 and November 15, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

  • ACCESSWIRE

    The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of HEXO, FCAU and XYF

    NEW YORK, NY / ACCESSWIRE / January 27, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. During the class period, HEXO Corp. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

  • ACCESSWIRE

    FINAL DEADLINE ALERT - HEXO Corp. (HEXO) - Bronstein, Gewirtz & Grossman, LLC Notifies Investors With Losses Exceeding $100K of Class Action and Lead Plaintiff Deadline: January 27, 2020

    NEW YORK, NY / ACCESSWIRE / January 27, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against HEXO Corp. ("HEXO") or the "Company") ...

  • ACCESSWIRE

    FINAL DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against HEXO Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 27, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HEXO Corp. ("HEXO" or "the Company") (NYSE:HEXO) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 25, 2019 and November 15, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 27, 2020.

  • GlobeNewswire

    HEXO FINAL DEADLINE TODAY: ROSEN, A LEADING LAW FIRM, Reminds HEXO Corp. Investors of Important January 27th Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $750K to Contact the Firm – HEXO

    NEW YORK, Jan. 27, 2020 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of HEXO Corp. (NYSE: HEXO) between January 25, 2019 and.

  • Benzinga

    Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week

    Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week Welcome to the  Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories ...

  • ACCESSWIRE

    HEXO DEADLINE TODAY: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages HEXO Corp. (HEXO) Investors of Today’s Deadline to Move for Lead Plaintiff

    SAN FRANCISCO, CA / ACCESSWIRE / January 27, 2020 / Hagens Berman has filed a class action Complaint on behalf of investors in HEXO Corp. (NYSE:HEXO) . The firm alerts HEXO investors of today's deadline ...

  • ACCESSWIRE

    FINAL DEADLINE TOMORROW: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against HEXO Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 26, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HEXO Corp. ("HEXO" or "the Company") (NYSE:HEXO) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 25, 2019 and November 15, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 27, 2020.

  • ACCESSWIRE

    HEXO LOSS DEADLINE: ROSEN, GLOBALLY RECOGNIZED FIRM, Reminds HEXO Corp. Investors of Important January 27th Deadline in Securities Class Action - HEXO

    NEW YORK, NY / ACCESSWIRE / January 26, 2020 / Rosen Law firm reminds purchasers of the securities of HEXO Corp. (NYSE:HEXO) between January 25, 2019 and November 15, 2019, inclusive (the "Class Period") ...

  • ACCESSWIRE

    HEXO FINAL DEADLINE ALERT: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages HEXO Corp. (HEXO) Investors to Contact Its Attorneys; Application Deadline Tomorrow

    SAN FRANCISCO, CA / ACCESSWIRE / January 26, 2020 / Hagens Berman urges investors in HEXO Corp. (NYSE:HEXO) who have suffered losses in excess of $500,000 to submit their losses now to learn if they qualify ...

  • ACCESSWIRE

    The Gross Law Firm Announces Class Actions on Behalf of Shareholders of HEXO, FCAU and EXC

    NEW YORK, NY / ACCESSWIRE / January 26, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. A class action has commenced on behalf of certain shareholders in HEXO Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

  • ACCESSWIRE

    INVESTOR ACTION NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against HEXO Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 25, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HEXO Corp. ("HEXO" or "the Company") (NYSE:HEXO) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 25, 2019 and November 15, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 27, 2020.

  • ACCESSWIRE

    2-DAY HEXO DEADLINE & UPDATE ALERT: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages HEXO Corp. (HEXO) Investors to Contact Firm; Application Deadline Approaching

    SAN FRANCISCO, CA / ACCESSWIRE / January 25, 2020 / Hagens Berman urges investors in HEXO Corp. (NYSE:HEXO) who have suffered losses in excess of $500,000 to submit their losses now to learn if they qualify ...

  • ACCESSWIRE

    HEXO 3 DAYS UNTIL FILING DEADLINE: Bernstein Liebhard LLP Encourages Investors with Losses to Contact the Firm and Reminds Investors of the Rapidly Approaching Deadline in a Securities Class Action Lawsuit Against Hexo Corp.

    NEW YORK, NY / ACCESSWIRE / January 24, 2020 / Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a motion for lead plaintiff in a securities ...

  • ACCESSWIRE

    The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of HEXO, PRU and EXC

    NEW YORK, NY / ACCESSWIRE / January 24, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...

  • HEXO: Has the Company Raised Enough Cash Now?
    TipRanks

    HEXO: Has the Company Raised Enough Cash Now?

    After cutting FY20 expectations by a substantial amount, HEXO (HEXO) has undertaken a string of capital raises in a short time frame to fund money-losing operations. Investors facing massive dilution have to question the wisdom of investing in a company with multiple equity raises with the stock plunging below $2. With the ongoing operating losses, one has to wonder whether the company won’t need to raise even more funds.Multiple Capital RaisesSince the fateful warning on October 10, 2019, HEXO has raised ~$100 million via three capital raises. * January 17, 2020 - $20 million via selling 11.98M shares at $1.67 per share plus warrants. * December 26, 2019 – $25 million via selling 14.97 million shares at $1.67 plus warrants. * October 23, 2019 – C$70 million via selling 8.0% unsecured convertible debt.HEXO had originally forecast doubling of revenues, but the sales gains never materialized. The company had an original FY20 sales guidance of C$400 million, but analysts are now down near $60 million. The latest analyst estimates only have sales growing to top $125 million in FY21 (ending July).Cash BurnThe problem facing HEXO and most Canadians is that sales estimates have far missed original targets. The companies spent on facilities and built up operations for a revenue base of up to double the current sales levels.The amount of retail stores in the key provinces of Ontario and Quebec are only ~60 in mid-January. This store issue will slowly resolve over the course of 2020, but a company like HEXO needs the cash to fund growth initiatives now and can’t wait another year for a sales rebound.In the FQ1 quarter ending October 31, HEXO ended the quarter with sales of only C$14.5 million while generating an incredibly large adjusted EBITDA loss of C$24.6 million. The loss was a slight improvement from the prior quarter, but the cannabis company remains far in the red, hence the constant capital raises when the opportunity exists.The company even cut operating expenses during the quarter sequentially by 25%, yet total expenses were still C$35.1 million. HEXO had C$73.5 million of cash on hand at quarter end, but the company also projected spending another C$100 million on capex for the year.Analysts don’t have HEXO reaching the quarterly sales levels to top the current expense levels for well over a year from now. The company has the additional benefit of the cannabis beverage joint venture with Molson Coors (TAP) that won’t be consolidated on the income statement, but the company needs to reduce the cash burn here before investors can focus on those benefits.More Financings Not out of the Question, Says AnalystDilution will continue to be an issue for investors as the company continues to sort itself out. Desjardins analyst John Chu opined, "Following an C $800m base shelf prospectus in November 2018, we could see more financings going forward. HEXO recognizes the cannabis environment has changed dramatically and access to capital has become very difficult. Consequently, if investors are willing to invest meaningfully in the company at terms it finds acceptable, the company will consider it. HEXO also indicated to us that its ATM should commence around January 22, 2020 (recall that Aurora had raised ~C$165m through its ATM in ~4–5 months)."Overall, Wall Street is not convinced that HEXO is worth the risk. Based on 12 analysts tracked by TipRanks in the last 3 months, only 2 say Buy, 5 say Hold, and 5 recommend Sell. However, the 12-month average price target stands at $2.17, marking over 50% upside from where the stock is currently trading. (See HEXO stock analysis on TipRanks)TakeawayThe key investor takeaway is that HEXO has a lot of positive catalysts to play out in 2020, but the company needs to reorganize the firm to reduce operating expenses following delayed catalysts this year. The stock had seen a recent boost due to some over excitement about the rebound in sales at competitor Organigram, but investors should be cautioned that the revenue beat was due to low quality sales.HEXO is likely headed to new lows now as too many questions exist on whether all of these capital raises are enough to fund ongoing operating losses.To find better ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • ACCESSWIRE

    FINAL DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against HEXO Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 24, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against HEXO Corp. ("HEXO" or "the Company") (NYSE:HEXO) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 25, 2019 and November 15, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 27, 2020.

  • ACCESSWIRE

    HEXO INVESTOR DEADLINE: ROSEN, A LEADING FIRM, Reminds HEXO Corp. Investors of Important January 27th Deadline in Securities Class Action - HEXO

    NEW YORK, NY / ACCESSWIRE / January 24, 2020 / Rosen Law Firm reminds purchasers of the securities of HEXO Corp. (NYSE:HEXO) between January 25, 2019 and November 15, 2019, inclusive (the "Class Period") ...

  • ACCESSWIRE

    HEXO DEADLINE ALERT: ROSEN, A LEADING FIRM, Reminds HEXO Corp. Investors of Important January 27th Deadline in Securities Class Action - HEXO

    NEW YORK, NY / ACCESSWIRE / January 24, 2020 / Rosen Law Firm reminds purchasers of the securities of HEXO Corp. (NYSE:HEXO) between January 25, 2019 and November 15, 2019, inclusive (the "Class Period") ...

  • GlobeNewswire

    Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against HEXO Corp.

    If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. On October 10, 2019, HEXO provided preliminary fourth quarter 2019 financial results, expecting revenue between $14.5 million to $16.5 million, well below previous guidance expecting CAD $24.8 million.

  • ACCESSWIRE

    CLASS ACTION UPDATE for GDOT, BAX and HEXO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

    NEW YORK, NY / ACCESSWIRE / January 24, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...