Trulieve Cannabis Corp. (NYSE:TRLV – Get Free Report)’s share price was up 7.6% during trading on Monday. The company traded as high as $10.95 and last traded at $11.0650. 460,971 shares traded hands during trading, a decline of 52% from the average daily volume of 961,374 shares. The stock had previously closed at $10.28.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Wall Street Zen downgraded Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 target price on shares of Trulieve Cannabis in a research report on Friday, October 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trulieve Cannabis in a report on Friday, September 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.
View Our Latest Analysis on Trulieve Cannabis
Trulieve Cannabis Stock Up 8.7%
The company has a quick ratio of 3.98, a current ratio of 5.94 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $11.19. The company has a market capitalization of $2.15 billion and a P/E ratio of 101.57.
Trulieve Cannabis (NYSE:TRLV – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $271.00 million during the quarter, compared to analyst estimates of $268.82 million. Trulieve Cannabis had a negative return on equity of 4.24% and a negative net margin of 41.55%. As a group, research analysts expect that Trulieve Cannabis Corp. will post 0.31 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new position in Trulieve Cannabis during the third quarter valued at $770,000. Partners Wealth Management LLC bought a new stake in shares of Trulieve Cannabis in the 3rd quarter worth about $504,000. Commonwealth Equity Services LLC bought a new stake in shares of Trulieve Cannabis in the 3rd quarter worth about $242,000. Marion Wealth Management purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth about $109,000. Finally, PFS Partners LLC purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth about $33,000.
Trulieve Cannabis Company Profile
Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes and sells medical and adult-use cannabis products. Its offerings include flower, pre-rolls, concentrates, vaporizers, edibles, tinctures, capsules and topical products, sold through retail dispensaries and other approved channels under brands such as Trulieve, Cultivar Collection, Muse, Roll One and Alchemy.
Founded in 2015, Trulieve initially built its business around Florida’s medical cannabis market and later expanded into additional U.S.
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