Trulieve Cannabis (NYSE:TRLV) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Trulieve Cannabis Corp. (NYSE:TRLV)’s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $11.20 and traded as high as $12.00. Trulieve Cannabis shares last traded at $11.4790, with a volume of 1,342,373 shares.

Wall Street Analyst Weigh In

TRLV has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of Trulieve Cannabis in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Stock Up 3.4%

The firm has a market cap of $2.21 billion and a price-to-earnings ratio of 104.35. 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 company has a fifty day simple moving average of $11.20.

Trulieve Cannabis (NYSE:TRLV) last released its earnings results on Friday, August 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm 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%. Equities research analysts anticipate that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Trulieve Cannabis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. acquired a new position in shares of Trulieve Cannabis during the 3rd quarter valued at about $28,000. PFS Partners LLC purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth about $33,000. Marion Wealth Management purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth about $109,000. Commonwealth Equity Services LLC purchased a new position in shares of Trulieve Cannabis during the 3rd quarter worth about $242,000. Finally, StoneX Group Inc. acquired a new stake in shares of Trulieve Cannabis in the third quarter worth approximately $341,000.

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.