Trulieve Cannabis (NYSE:TRLV) Given Overweight Rating at Cantor Fitzgerald

Trulieve Cannabis (NYSE:TRLV)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They presently have a $15.00 price target on the stock. Cantor Fitzgerald‘s target price suggests a potential upside of 45.66% from the stock’s previous close.

TRLV has been the topic of several other reports. Wall Street Zen cut Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Price Performance

Trulieve Cannabis stock traded down $0.62 during trading hours on Friday, reaching $10.30. The stock had a trading volume of 411,760 shares, compared to its average volume of 956,553. Trulieve Cannabis has a 52 week low of $4.62 and a 52 week high of $13.28. The company has a market capitalization of $1.98 billion and a P/E ratio of 93.08. The company has a current ratio of 5.94, a quick ratio of 3.98 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $11.15.

Trulieve Cannabis (NYSE:TRLV) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $271.00 million for 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%. On average, sell-side analysts forecast that Trulieve Cannabis will post 0.31 EPS for the current fiscal year.

Institutional Trading of Trulieve Cannabis

A number of institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC acquired a new position in Trulieve Cannabis during the third quarter worth $770,000. Marion Wealth Management purchased a new stake in Trulieve Cannabis during the third quarter valued at about $109,000. Finally, PFS Partners LLC purchased a new stake in shares of Trulieve Cannabis in the third 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.