Trulieve Cannabis (NYSE:TRLV) Shares Cross Above 50 Day Moving Average - Time to Sell?

Key Points

• Trulieve shares moved above their 50-day moving average of $11.17, reaching $11.55 before last trading at $11.245; trading volume was about 1.16 million shares.
• Analyst views are mixed: Cantor Fitzgerald reaffirmed an Overweight rating with a $15 target, while other ratings range from Hold to Sell. The overall consensus is Hold, with an average target of $15.
• Latest quarterly EPS of $0.09 matched estimates, while revenue of $230.2 million exceeded the $221.79 million consensus. The company nevertheless reported a negative net margin of 41.22%.

Shares of Trulieve Cannabis Corp. (NYSE:TRLV - Get Free Report) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $11.17 and traded as high as $11.55. Trulieve Cannabis shares last traded at $11.2450, with a volume of 1,164,140 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRLV. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 target price on shares of Trulieve Cannabis in a report on Monday, November 2nd. Wall Street Zen cut shares of Trulieve Cannabis from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $15.00.

Trulieve Cannabis Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 5.52 and a quick ratio of 3.65. The company has a market cap of $2.17 billion and a P/E ratio of 56.22. The business has a 50-day moving average price of $11.17.

Trulieve Cannabis (NYSE:TRLV - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $230.20 million during the quarter, compared to the consensus estimate of $221.79 million. Trulieve Cannabis had a negative net margin of 41.22% and a negative return on equity of 0.34%. On average, analysts expect that Trulieve Cannabis Corp. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Trulieve Cannabis

Several hedge funds have recently bought and sold shares of TRLV. Prime Capital Investment Advisors LLC purchased a new stake in Trulieve Cannabis during the third quarter worth $770,000. Marion Wealth Management acquired a new stake in Trulieve Cannabis in the third quarter valued at $109,000. PFS Partners LLC acquired a new stake in Trulieve Cannabis in the third quarter valued at $33,000. North Star Investment Management Corp. acquired a new stake in Trulieve Cannabis in the third quarter valued at $28,000. Finally, StoneX Group Inc. purchased a new position in shares of Trulieve Cannabis in the third quarter valued at $341,000.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a U.S. cannabis company that cultivates, processes and sells cannabis products through a vertically integrated business. Its offerings include flower, concentrates, vape products, edibles and other cannabis products, sold under brands such as Trulieve and Modern Flower. Founded in Florida in 2015, the company built its business in that state and expanded into other U.S. markets, including Arizona and Pennsylvania. Its operations and product offerings are shaped by the regulations in each state where it operates.

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