Wall Street Zen downgraded shares of Trulieve Cannabis (NYSE:TRLV – Free Report) from a buy rating to a hold rating in a report released on Saturday morning.
A number of other research firms have also weighed in on TRLV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a research note on Friday. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings initiated coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.00.
Get Our Latest Stock Report on TRLV
Trulieve Cannabis Price Performance
Trulieve Cannabis (NYSE:TRLV – Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $271.00 million during the quarter, compared to analysts’ expectations of $268.82 million. On average, research analysts forecast that Trulieve Cannabis will post 0.2 earnings per share for the current year.
Insider Activity
In related news, CEO Kim A. Rivers sold 136,811 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $8.76, for a total value of $1,198,464.36. Following the sale, the chief executive officer directly owned 1,476,913 shares in the company, valued at approximately $12,937,757.88. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,699,007 shares of company stock valued at $14,661,355 over the last quarter. Insiders own 3.79% of the company’s stock.
About Trulieve Cannabis
Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.
Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.
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