Trulieve Cannabis (NYSE:TRLV) Trading 8.3% Higher – Time to Buy?

Shares of Trulieve Cannabis Corp. (NYSE:TRLV) traded up 8.3% during trading on Thursday . The company traded as high as $9.74 and last traded at $9.8650. Approximately 663,856 shares changed hands during trading, an increase of 3% from the average session volume of 647,423 shares. The stock had previously closed at $9.11.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings started coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Trulieve Cannabis in a research note on Friday, August 7th. Wall Street Zen cut shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trulieve Cannabis has an average rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Stock Up 6.7%

The firm has a fifty day simple moving average of $8.90.

Trulieve Cannabis (NYSE:TRLV) last issued 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 company had revenue of $271.00 million during the quarter, compared to analysts’ expectations of $268.82 million. Analysts expect that Trulieve Cannabis Corp. will post -0.37 EPS for the current year.

Insider Buying and Selling at Trulieve Cannabis

In other news, CEO Kim A. Rivers sold 136,811 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were 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 of the company’s stock, valued at approximately $12,937,757.88. The trade was a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,699,007 shares of company stock worth $14,661,355 in the last ninety days. 3.79% of the stock is owned by company insiders.

Trulieve Cannabis Company Profile

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.