HRVSF - Harvest Health & Recreation Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
1.2650
-0.0950 (-6.99%)
At close: 3:59PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close1.3600
Open1.3500
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range1.2400 - 1.4200
52 Week Range0.4600 - 6.9000
Volume416,116
Avg. Volume595,342
Market Cap447.128M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.6050
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.46
  • EXCLUSIVE: High Times Launches Cannabis Delivery in California Starting July
    IPO-Edge.com

    EXCLUSIVE: High Times Launches Cannabis Delivery in California Starting July

    By John Jannarone, IPO Edge High Times plans to launch delivery of cannabis from dispensaries in California beginning in July, a service designed to accommodate the need for social distancing that has accelerated the shift to e-commerce across the retail sector. Formally known as Hightimes Holding Corp., the company will begin with coverage areas spanning […]

  • Harvest Health & Recreation Inc. Reports First Quarter 2020 Financial Results
    CNW Group

    Harvest Health & Recreation Inc. Reports First Quarter 2020 Financial Results

    Harvest Health & Recreation Inc. Reports First Quarter 2020 Financial Results

  • Harvest Health & Recreation Inc. To Hold First Quarter 2020 Earnings Conference Call on May 20, 2020
    PR Newswire

    Harvest Health & Recreation Inc. To Hold First Quarter 2020 Earnings Conference Call on May 20, 2020

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company and multi-state operator (MSO) in the U.S., today announced that it will hold a conference call on Wednesday, May 20, 2020 at 5:00 PM Eastern Time following the release of its first quarter 2020 financial results.

  • High Times Selects Retail Veteran Peter Horvath as CEO Ahead of New Stock Listing
    IPO-Edge.com

    High Times Selects Retail Veteran Peter Horvath as CEO Ahead of New Stock Listing

    High Times Set to Expand Quickly with Cannabis Dispensaries and E-Commerce Horvath Brings Decades of Retail, Digital Sales Experience including Aerie, Victoria’s Secret Horvath Also Led IPO Process, Public Investor Comms at DSW, Green Growth Brands By John Jannarone, IPO Edge Hightimes Holding Corp., owner of the eponymous magazine, has hired Peter Horvath as its new CEO, […]

  • High Times Buys 13 Dispensaries from Harvest, Gains Instant Cannabis Retail Foothold Before Listing
    IPO-Edge.com

    High Times Buys 13 Dispensaries from Harvest, Gains Instant Cannabis Retail Foothold Before Listing

    Rendering of a High Times Dispensary By John Jannarone, IPO Edge Hightimes Holding Corp., owner of the eponymous magazine, entered a purchase agreement to buy 13 active and planned retail dispensaries from Harvest Health and Recreation, Inc. for $80 million in cash and stock, giving the company an almost instant foothold in California’s cannabis market. […]

  • 3 Bargain Cannabis Stocks to Own as the U.S. Economy Reopens
    TipRanks

    3 Bargain Cannabis Stocks to Own as the U.S. Economy Reopens

    As the U.S. economy looks to reopen in multiple states, a lot of American cannabis stocks are still trading near multi-year lows despite limited store closures. The cannabis sector got a major seal of approval with most stores remaining open as states unanimously approved dispensaries as essential stores.The sector could get a further boost from the need for tax revenues as the whole U.S. tax revenues are down substantially during March and April with the economy shutdown. States from Arizona to Florida to New York could look towards approving recreational cannabis as a way to grab more tax revenues while the Federal government may finally move forward with some real regulations. The government could either approve cannabis or at least provide the companies with access to the banking system and tax relief.The negative ramifications for the cannabis sector are the tighter credit dynamics, but the large multi-state operators (MSOs) could benefit from weaker players being forced out of business. In addition, a lot of sector leaders are wrapping up or cancelling major deals placing the sector in a more researchable position providing more confidence for investors. Clearly, the market didn’t like the uncertainty in the sector with large deals faltering and taking additional months to close.We’ve delved into these three MSOs with positive outlooks for a strong June quarter and catalysts for higher stock prices in 2020. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to get the lowdown on what the near-term holds for these MSO players.Harvest Health & Recreation (HRVSF)One of the most disappointing MSOs over the last year has been Harvest Health & Recreation. The company ended 2019 with major plans to acquire Falcon and Verano that both collapsed sending the shares to new lows in a weak stock market.While these deals were supposed to push the MSO into the top tier of cannabis stocks, the company is still on path to top $50 million in quarterly sales during the June quarter. Even better, Harvest Health is positioned in mostly medical marijuana states providing tons of optionality when recreational cannabis gets approved in either Arizona, Florida or Pennsylvania.A lot of the major deals in the MSO space kept companies like Harvest Health and shareholders alike in limbo. With multiple deals on the table, the valuation was always questioned due to the future share issuance and the unknown complete picture of the new entity.For Q4, the cannabis company reported sales of only $37.8 million and guided towards Q1 growth at a similar rate as the just reported 14% growth in the prior quarter. Harvest Health should top $43 million in the already ended quarter and be on pace to approach $50 million in the current quarter.The additional revenues from a full quarter of Arizona Natural Selections will boost Q2 results. Harvest Health ended the quarter with 35 open dispensaries with a license footprint above 100 providing a substantial growth path.In total, Harvest Health has over 400 million shares outstanding now for a market cap only in the $240 million range while revenues should top $200 million this year before any future benefits of recreational cannabis in key states like Arizona and Florida.Most of the Street have not given up on the company just yet, as TipRanks analytics showcase Harvest Health as a Strong Buy. Out of 4 analysts tracked in the last 3 months, 3 are bullish on the stock, while 1 remains sidelined. With a potential upside of over 400%, the stock’s consensus target price stands at $4.37. (See Harvest Health stock analysis on TipRanks)Curaleaf (CURLF)Curaleaf remains the biggest unknown cannabis company in the world. As the Grassroots deal closes here shortly, the company should have completed a quarter where pro-forma sales should approach $150 million due to recreational sales in Illinois.While most of the large Canadian cannabis companies have retrenched, Curaleaf continues to expand despite hiccups such as the disappointing Select deal. The resolution of the vape issues should boost wholesales vape revenues going forward and the closure of the Grassroots deal gives the cannabis giants a strong position in the soaring recreational market in Illinois plus expanded access to Pennsylvania.For Q4, Curaleaf reported official sales of only $82 million with guidance for up to $100 million in the current quarter knowing the Grassroots deal wouldn’t close on time. As mentioned, the March quarter should approach $150 million in pro-forma revenues with an even bigger boost in the June quarter as Curaleaf opens more stores.After these deals, Curaleaf will have at least 650 million shares outstanding placing the market cap in the $2.6 billion range here. The company had plans for pro-forma sales in the $1 billion range this year and those numbers will depend highly on a rebound in Select brand vape sales and the Grassroots deal closing.As with these other MSOs, Curaleaf recently closed a deal in just a week for 3 dispensaries in Connecticut. The market will find the certainty of these tuck in deals more appealing going forward.Overall, Wall Street loves Curaleaf stock, considering most voices are betting on this cannabis producer. TipRanks analytics exhibit Curaleaf as a Strong Buy based on 6 Buy ratings and 3 Holds. The 12-month average price target stands at $9.74, marking a 110% upside from where the stock is currently trading. (See Curaleaf stock analysis on TipRanks)Trulieve (TCNNF)Another underappreciated cannabis play is Trulieve Cannabis. The stock has bounced off the lows back above $9, but Trulieve traded above $13 back in December and the company reaffirmed strong numbers only a couple of weeks ago.The MSO has incredible expectations for 2020 adjusted EBITDA of $150 million. While the major Canadian companies are struggling to even reach EBITDA positive levels, Trulieve reported a 22% sequential boost in quarterly EBITDA to $45 million in the December quarter.The company is mainly just a medical cannabis provider in Florida, so the $400 million revenues estimates for this year is a sparse reflection of the ultimate revenue potential. Considering Trulieve has already confirmed 2020 numbers into April, the stock is de-risked having likely survived the worst of the COVID-19 crisis while benefitting from medical cannabis being labeled an essential product. With a market cap of only $1 billion, the stock is truly underappreciated.It's worth pointing out that Wall Street analysts are unanimous in their endorsement of the shares. Trulieve has been endorsed with "buy" ratings by all five of the analysts who have voiced an opinion on the stock over the three months. Meanwhile, the consensus estimate of analysts polled is that Trulieve shares should rise a 68% (68.61% to be precise) to hit $17.35 within a year.To find good 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.

  • Harvest Announces Planned Divestment of Select California Retail Assets to High Times
    PR Newswire

    Harvest Announces Planned Divestment of Select California Retail Assets to High Times

    Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company and multi-state operator (MSO) in the U.S., today announced plans to divest select retail assets in California to Hightimes Holding Corp. ("High Times"). Harvest and its affiliates intend to sell a portfolio of equity and assets with respect to 13 operational and planned dispensaries in California for total consideration including up to $5 million in cash, $7.5 million as a one-year promissory note with 10% interest, and $67.5 million in Series A Preferred Stock issued by High Times. Harvest will retain select retail dispensaries and licenses for potential retail locations in California following completion of this transaction.

  • GlobeNewswire

    High Times Announces Acquisition of 13 California Retail Assets from Harvest

    The World’s Most Recognized Cannabis Brand Expands Portfolio into the World’s Largest Cannabis Market LOS ANGELES, April 28, 2020 -- Hightimes Holding Corp., the owner of.

  • Harvest Health & Recreation Inc. Reports Fourth Quarter and Full Year 2019 Financial Results
    CNW Group

    Harvest Health & Recreation Inc. Reports Fourth Quarter and Full Year 2019 Financial Results

    Harvest Health & Recreation Inc. Reports Fourth Quarter and Full Year 2019 Financial Results

  • Harvest Health & Recreation Inc. To Hold Fourth Quarter 2019 Earnings Conference Call on April 7, 2020
    PR Newswire

    Harvest Health & Recreation Inc. To Hold Fourth Quarter 2019 Earnings Conference Call on April 7, 2020

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that it will hold a conference call on Tuesday, April 7, 2020 at 5:00 PM Eastern Time following the release of its fourth quarter 2019 financial results.

  • Harvest Acquires Franklin Labs, LLC Adding Supply and Enhancing Margins in Pennsylvania
    PR Newswire

    Harvest Acquires Franklin Labs, LLC Adding Supply and Enhancing Margins in Pennsylvania

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the closing of the acquisition of Franklin Labs, LLC, a subsidiary of CannaPharmacy, for approximately $25.5 million payable with $15.5 million in cash and a $10 million promissory note.

  • Harvest and Verano Announce Mutual Termination of Business Combination Agreement
    PR Newswire

    Harvest and Verano Announce Mutual Termination of Business Combination Agreement

    Today Harvest Health & Recreation Inc. (CSE: HARV, OTCQX:HRVSF) ("Harvest") and Verano Holdings, LLC ("Verano") announced the mutual termination of the Business Combination Agreement dated April 22, 2019 (the "BCA").

  • 3 ‘Strong Buy’ Cannabis Stocks That Look Compelling Right Now
    TipRanks

    3 ‘Strong Buy’ Cannabis Stocks That Look Compelling Right Now

    Toilet paper isn’t the only item consumers are stocking up on. Adult-use marijuana sales surged recently as consumers in the U.S. prepared to be stuck at home. As a result of all the panic buying, sales in California are over 2.5x higher than in March 2019 and 1.5x higher in Colorado. A dozen other markets appear to be on their way to notching all-time year-to-date highs.Many states have deemed dispensaries as an essential service, ensuring that they can remain operational under certain limitations and guidelines. While Canaccord analyst Matt Bottomley acknowledges that the industry isn’t fully insulated from the effects of the COVID-19 pandemic, he argues that any negative risks are limited substantially thanks to dispensaries. To this end, the analyst tells clients that he sees big things in store for a few U.S. Multi-State-Operators (MSOs).Bearing this in mind, we used TipRanks’ database to take a closer look at three cannabis stocks backed by the investment firm. Not only have all of the names received enough support from other analysts to earn a “Strong Buy” consensus rating, but each also boasts some brag-worthy upside potential. Let’s get started.Curaleaf Holdings (CURLF)First up, we have Curaleaf, which is slated to report earnings today. Based on several developments during the quarter, Canaccord's Bottomley expects the company to “continue to see attractive growth in its standalone/managed revenue.” In Q4, CURLF expanded its standalone business with the opening of its first adult-use dispensary in Massachusetts and two additional retail openings in Florida. This puts its total exposure in Florida at 28 locations. Even though there’s some uncertainty related to its Grassroots and Select segments, the analyst thinks both will ultimately fuel growth for CURLF.As a result, Bottomley is calling for standalone/managed revenue of $86.5 million, which would reflect a 15% quarter-over-quarter gain. While the growth is expected to be more modest for Select, due to vaping headwinds, Grassroots could post a 20% quarter-over-quarter rise. This would bring pro forma Q4 revenue to $152.9 million, up 19% from the prior quarter, and adjusted EBITDA to $9.6 million. A slight adjusted gross margin increase could also be in store.Additionally, after the quarter concluded, the company announced two more recreational dispensaries in Massachusetts, term loan financing of $300 million, license wins in Utah and Pennsylvania and that its Select and Acres acquisitions had been finalized. This prompted Bottomley to state, “As a result, we expect the company to see a significant step-function increase in its standalone top line in the first quarter of 2020.”With everything CURLF has going for it, it makes sense that Bottomley left his Buy rating and C$16 (US$11) price target as is. Should the target be met, a twelve-month gain of 184% could be in the cards. (To watch Bottomley’s track record, click here)Turning now to the rest of the Street, other analysts are generally on the same page. 4 Buys and 1 Hold add up to a Strong Buy analyst consensus. At US$8.28, the average price target implies 114% upside potential. (See Curaleaf stock analysis at TipRanks)Green Thumb Industries (GTBIF)Moving on to Green Thumb, Bottomley tells investors he has been impressed with this cannabis name, with it gearing up to announce its financial results on March 26.Like Curaleaf, GTBIF has made strides in expanding its presence in several states throughout the U.S. At the end of the fourth quarter, the company revealed that it had opened six new locations, two in Pennsylvania and new stores in Florida, New Jersey, Connecticut and Ohio. With these new additions, its year-end store count comes in at 39. If that wasn’t enough, GTBIF received a $20.3 million sales and leaseback arrangement for its Pennsylvania cultivation/production facility.The implication of these developments? Bottomley argues “For Q4/19, we expect GTI to realize moderate same-store-growth and incremental contribution from six additional stores opened during the period (albeit with less than a month of contribution on average).” This means that quarterly revenue could reach $76.5 million, up 13% quarter-over-quarter, and positive adjusted EBITDA of $11.5 million could be in the cards. Gross margins are expected to hold sturdy as well.It should also be noted that following the end of the quarter, GTBIF announced additional sales and leasebacks of facilities in Ohio and Illinois and two more store openings in Illinois. “As a result, we believe Q1/20 will likely see significant growth over our Q4/19 forecasts,” Bottomley commented.In line with his optimistic expectations, Bottomley reiterated his Buy rating. At C$20 (US$13.80), the analyst’s price target suggests 144% upside potential.Looking at the consensus breakdown, other analysts take a similar approach. With 4 Buys and 1 Hold issued in the last three months, the word on the Street is that GTBIF is a Strong Buy. Not to mention the $16.29 average price target implies 185% upside potential. (See Green Thumb stock analysis at TipRanks)Harvest Health & Recreation (HRVSF)With Harvest Health & Recreation preparing to report earnings the week of April 6, Bottomley has high hopes based on its recent retail openings.During the quarter, HRVSF added its fourth dispensary in California, got a license for a fifth and reached a management service agreement for a store in Maryland. According to Bottomley, in order to compete with GTBIF in Pennsylvania, it opened three new stores in the state.As Bottomley expects “continued progression it its core business, aided by contribution from an additional California recreational store and three new medical dispensaries in Pennsylvania”, he thinks standalone revenue will land at $40.7 million, representing 23% quarter-over-quarter growth. To top it all off, the analyst is predicting a gross margin expansion of 900 basis points to 40% and pro forma quarterly revenue of $109 million, up 14% quarter-over-quarter.Despite the call for negative adjusted EBITDA, Bottomley points to several new developments reported after quarter-end as being capable of driving upside. “Subsequent to quarter end, the company (1) announced the purchase of an additional facility in Nevada; (2) announced and closed a deal for Have a Heart; (3) announced license wins/strategic arrangements in Arkansas and Michigan; (4) acquired four additional licenses (with three operating dispensaries) in its home state of Arizona (where it has a leading presence); and (5) announced significant corporate updates,” he noted.Taking all of this into consideration, Bottomley decided to stay with the bulls, maintaining a Buy recommendation and C$7.00 (US$4.85) price target. This target implies that shares could soar 375% in the next year.What do other analysts have to say? It turns out that a majority are also bullish. A Strong Buy consensus rating breaks down into 5 Buys and 1 Hold. Impressively, the $6.79 average price target leaves room for 567% upside potential. (See Harvest Health stock analysis on TipRanks)

  • Harvest Announces Closing of Interurban Capital Group, Inc. Merger
    CNW Group

    Harvest Announces Closing of Interurban Capital Group, Inc. Merger

    Harvest Announces Closing of Interurban Capital Group, Inc. Merger

  • Harvest Announces Corporate Updates, Management and Board Changes
    PR Newswire

    Harvest Announces Corporate Updates, Management and Board Changes

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the execution of a definitive merger agreement of the previously announced acquisition of Interurban Capital Group, Inc. ("ICG"), the resignation of Jason Vedadi from his role as Executive Chairman of the Board of Directors (the "Board") and planned updates to the Board.

  • Harvest Health & Recreation Inc. Announces Acquisition of Arizona Natural Selections
    CNW Group

    Harvest Health & Recreation Inc. Announces Acquisition of Arizona Natural Selections

    PHOENIX , Feb. 19, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the acquisition of Arizona Natural Selections, including the company's four vertical medical licenses in Arizona for a non-material undisclosed amount of stock. With this acquisition Harvest owns and operates 14 medical dispensaries, four cultivation facilities, and three processing facilities in its home state of Arizona , a total of 15 vertical licenses.

  • Harvest Health & Recreation Inc. to Operate Dispensary in Little Rock, Arkansas
    CNW Group

    Harvest Health & Recreation Inc. to Operate Dispensary in Little Rock, Arkansas

    PHOENIX , Feb. 17, 2020 /CNW/ -- Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the opening of a dispensary in Little Rock, Arkansas . The licensee, Natural State Wellness Dispensary, was inspected and authorized to commence operation by the Arkansas Alcoholic Beverage Control Division ("ABC"). Harvest has been authorized to operate the facility as Harvest House of Cannabis by the Arkansas Medical Marijuana Commission.

  • 3 Cannabis Stocks Set to Shock the Market
    TipRanks

    3 Cannabis Stocks Set to Shock the Market

    While the stock market is still focused on the large Canadian cannabis LPs listed on major U.S. stock exchanges, several U.S. multi-state operators (MSOs) are set to shock the market with industry leading positions. These companies are set to combat the Canadians for the largest operations without the help of major investments or even Federal approval of cannabis.Both Canopy Growth and Aurora Cannabis, which grab the vast majority of investor headlines, are set to generate quarterly revenues in the $60 million to $80 million range for the December quarter. Yet, some of the MSOs are set to blow past these numbers.The U.S. MSOs operate in the largest cannabis market in the world, which forecast to derive greater than 50% of the global market, at least through 2023. While the global cannabis market is expected to grow from an estimate of $24.4 billion in 2019 to $52.5 billion in 2023, the U.S. market alone is forecast to more than double from $12.5 billion last year to $25.7 billion in 2023.The U.S. market is forecast to account for nearly 53% of the global cannabis market in four years making the opportunity to focus on U.S. alone the best opportunity for a cannabis company to profit.We’ve delved into these three U.S. MSOs with operations set to shock the world with their scale and size. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to give us an idea of what the Street thinks is in store for the trio in the year ahead.Curaleaf (CURLF)The market virtually ignored Curaleaf finally closing the acquisition of Select brands from Cura Partners last week. The deal provides an extensive wholesale distribution system for the Select brand products in California and other western states.With the regulators signing off on the deal finally, investors will see far less risk to the investment story and the likelihood of closing the crucial Grassroots deal to gain access to Illinois. The state of Illinois just announced the first month of recreational sales reached nearly $40 million and Grassroots is a major part of the growth story in that key state.In the prior quarter, Curaleaf reported pro-forma revenues of $129 million or the equivalent of C$172 million. If they were a Canadian LP, the stock valuation would far exceed the Canadian stocks versus the current projected market valuation of only $4.7 billion.In addition, Beacon Securities analyst Russell Stanley recently predicted Curaleaf would reach annual sales of $2.1 billion in 2021 with EBITDA profits of $899 million based on 42% margins. To place these numbers in perspective, analysts have Canopy Growth with an $8 billion market cap not topping $1 billion in sales until FY22 ending in March.The company is in line to have operations in 19 states with licenses for 131 dispensaries and 1,150 wholesale partners. In addition, the company has a massive 1.4 million square feet of cultivation capacity with the ability to expand to 2.3 million square feet.TipRanks’ data shows a bullish camp backing this MSO. The ‘Strong Buy’ stock has amassed 6 ‘buy’ ratings in the last three months, with just one analyst playing it safe with a hold rating. The 12-month average price target stands tall at $8.43, marking over 30% in return potential for the stock. (See Curaleaf's price targets and analyst ratings on TipRanks)Green Thumb (GTBIF) Green Thumb Industries isn’t a household name in the cannabis space or busy making large-scale deals, yet the company is targeting December quarter revenues of $75 million or the equivalent of nearly C$100 million. The stock only has a market cap of $2 billion when Canadian companies generating half those revenues top this market valuation.In the last quarter, Green Thumb generated revenues of $68 million while the company will now benefit substantially from the legalization of adult-use cannabis in Illinois. At the end of January, the company opened the seventh Rise store in Illinois and 41st in the country.The company is based in Chicago so the Illinois market should provide a big boost to the hometown company, but Green Thumb has operations far beyond Illinois. The company has licenses for 96 retail locations in 12 U.S. markets with 13 manufacturing facilities.Analysts forecast 2020 revenues topping $460 million placing the company on par with estimates for the Canadian cannabis giants.The analyst consensus from TipRanks tells a very similar story. Green Thumb has received 6 “buy” ratings in the last three months, with no holds or sells – a clear sign that analysts are impressed with the company’s potential. Shares sell for $8.17, and the average price target of $18.72 gives the stock an eye-opening 130% upside. (See Green Thumb's price targets and analyst ratings on TipRanks)Harvest Health & Recreation (HRVSF)Harvest Health & Recreation is another wild-card stock depending highly on acquisitions to top the large Canadian companies. The company has revenue targets approaching $1 billion in 2020 while analysts have revenue estimates reaching $1 billion in 2021. Either way, the MSO becomes a very large cannabis company in the next year or so.For Q3, the company reported pro-forma revenues of $95 million. Analysts have Q4 revenue targets at only $41 million due to acquisitions not closing. Harvest Health is reporting adjusted EBITDA losses, but the company expects to become EBITDA positive after closing the pending deals in 2020. The cannabis company projects 10% EBITDA margins reaching 20% margins in 2020.The company has a lawsuit with pending acquisition target Falcon International causing a cloudier view of the stock due to the $50 million breakup fee, but Harvest Health has other deals in the work including the recently announced deal for Have a Heart CC. The deal includes 11 operating dispensaries in California, Washington and Iowa and licenses for another seven locations in California.The MSO is positioned for operations in 13 states with over 130 retail locations and 80 manufacturing sites. The company has missed out on the Illinois recreational legalization, but Harvest Health is positioned for other markets like Arizona and Florida legalizing recreational cannabis use.Harvest Health projects having 487 million shares outstanding after mergers close providing a fully diluted market valuation of below $1.5 billion with the legitimate targets of reaching the $1 billion revenue level prior to the large Canadian cannabis stocks.At just $2.53, Harvest Health shares are another bargain for return-minded investors. The stock’s $10.17 average price target implies over 300% upside, and the analyst consensus of Strong Buy is based on just four ratings, which were given in the past three months. (See Harvest Health's stock-price forecast on TipRanks)

  • Harvest Health & Recreation Inc. Announces Redistribution and New Equity Option Award
    PR Newswire

    Harvest Health & Recreation Inc. Announces Redistribution and New Equity Option Award

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that key members of senior leadership, Co-Executive Chairman Jason Vedadi, CEO Steve White, and Operational Leader Joe Sai, have voluntarily surrendered a total of 2.4 million equity options to Harvest for redistribution to eligible employees throughout the company. The three senior leaders will not receive any consideration from Harvest.

  • Falcon International Corp. Responds To Complaint Filed By Harvest Health & Recreation, Inc. And Affiliates
    PR Newswire

    Falcon International Corp. Responds To Complaint Filed By Harvest Health & Recreation, Inc. And Affiliates

    Falcon International Corp. announced that on Friday, January 17, 2020 it moved to dismiss the recent complaint filed against it by Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) and certain of its affiliates for lack of jurisdiction. As more fully set forth in the motion, Falcon has the right pursuant to the terms and conditions of its heavily negotiated merger agreement to require Harvest to pay Falcon a cash breakup fee in the amount of US$50.0 million. In addition, amounts previously funded by Harvest to Falcon are convertible into Falcon equity at Harvest's or Falcon's option and, accordingly, are unlikely to be paid. Falcon expects that it will prevail in defending the matters set forth in Harvest's complaint and that it will be successful in enforcing its rights against Harvest as set forth in the merger agreement and related documents.

  • Harvest Health & Recreation Enters into Strategic Relationship with First Provisioning Center in Michigan
    PR Newswire

    Harvest Health & Recreation Enters into Strategic Relationship with First Provisioning Center in Michigan

    Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced a strategic relationship with Harvest of Battle Creek, a new provisioning center in Michigan. The new partnership continues Harvest's successful expansion into new markets and demonstrates the company's commitment to increasing patients' and customers' access to best-in-class medical marijuana experiences.

  • Market Exclusive

    Harvest Health & Recreation to Acquire Interurban

    Harvest Health & Recreation (CSE: HARV) (OTCQX: HRVSF) has announced that it is moving into the next stage in the process to acquire Interurban Capital Group, the owner and operator of Have a Heart CC. The parties have reached a stage that requires disclosure, according to Harvest statement. Preliminary terms suggests an acquisition price of approximately […]The post Harvest Health & Recreation to Acquire Interurban appeared first on Market Exclusive.

  • Benzinga

    Harvest Health Weighs $87.5M Purchase Of Cannabis Retailer Have A Heart

    Harvest Health & Recreation Inc (CSE: HARV) (OTC: HRVSF ), a vertically integrated cannabis company, said Monday that it is in negotiations to acquire Interurban Capital Group Inc, the owner and operator ...

  • Harvest Files Suit Against Falcon International, Inc.
    CNW Group

    Harvest Files Suit Against Falcon International, Inc.

    PHOENIX , Jan. 7, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that yesterday Harvest filed suit against Falcon International, Inc. ("Falcon") requesting termination and rescission of the Merger Agreement ("Transaction") and return of money Harvest paid to Falcon under the Merger Agreement. As detailed in the Complaint, filed in U.S. Federal Court, District of Arizona , Harvest alleges that Falcon has failed to meet its legal obligations in multiple ways, including the failure to provide auditable financial records, which precludes Harvest from moving forward with the Transaction.

  • Harvest Announces Potential Acquisition of Interurban Capital Group
    CNW Group

    Harvest Announces Potential Acquisition of Interurban Capital Group

    PHOENIX , Jan. 6, 2020 /CNW/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that negotiations to acquire Interurban Capital Group, Inc., the owner and operator of Have a Heart CC ("Have a Heart"), have reached a stage that require disclosure. Preliminary terms contemplate an acquisition price of approximately $87.5 million in Harvest stock and assumption of debt convertible into 205,594 multiple voting shares of Harvest stock, subject to applicable Canadian securities laws. Have a Heart assets include 11 operating dispensaries in California , Washington and Iowa and licenses for seven retail locations in California .