Trulieve Cannabis (NYSE:TRLV) Trading Up 4.7% – What’s Next?

Trulieve Cannabis Corp. (NYSE:TRLV)’s stock price rose 4.7% on Tuesday . The stock traded as high as $11.99 and last traded at $12.05. 137,826 shares were traded during mid-day trading, a decline of 80% from the average session volume of 691,962 shares. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

TRLV has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a research note on Friday, August 7th. Wall Street Zen cut Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research upgraded Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings assumed coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Price Performance

The firm has a fifty day simple moving average of $9.29.

Trulieve Cannabis (NYSE:TRLV) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm 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 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.17, for a total value of $3,268,000.00. Following the completion of the sale, the chief executive officer owned 1,913,724 shares of the company’s stock, valued at $15,635,125.08. This represents a 17.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,699,007 shares of company stock valued at $14,661,355. Insiders own 3.79% of the company’s stock.

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.