Trulieve Cannabis (NYSE:TRLV) Trading 4.5% Higher – Still a Buy?

Trulieve Cannabis Corp. (NYSE:TRLV) shares shot up 4.5% during trading on Wednesday . The stock traded as high as $11.72 and last traded at $11.8350. 249,766 shares were traded during mid-day trading, a decline of 63% from the average session volume of 674,749 shares. The stock had previously closed at $11.32.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRLV. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. Weiss Ratings began coverage on shares of Trulieve Cannabis in a report on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Trulieve Cannabis in a report on Friday, August 7th. 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 stock. According to data from MarketBeat, Trulieve Cannabis currently has an average rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Stock Up 3.6%

The business’s 50 day moving average price is $9.14.

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 analysts’ expectations of $268.82 million. On average, analysts expect that Trulieve Cannabis Corp. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Trulieve Cannabis 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 transaction of $1,198,464.36. Following the sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,699,007 shares of company stock valued at $14,661,355. 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.