Trulieve Cannabis (NYSE:TRLV) Shares Down 6.4% - Should You Sell?

Key Points

• Trulieve Cannabis shares fell 6.4% to approximately $10.22, below the 50-day moving average of $11.15, with trading volume also below its average.
• Analyst views are mixed, with ratings split among Buy, Hold, and Sell; the overall consensus is Hold with a $15.00 price target.
• The company exceeded quarterly earnings and revenue estimates, but it continues to report a negative net margin and negative return on equity. Several institutional investors recently initiated positions in the stock.

Trulieve Cannabis Corp. (NYSE:TRLV - Get Free Report) was down 6.4% on Friday. The stock traded as low as $10.19 and last traded at $10.22. Approximately 693,773 shares changed hands during trading, a decline of 28% from the average session volume of 958,970 shares. The stock had previously closed at $10.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRLV. Wall Street Zen downgraded Trulieve Cannabis from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a research note on Friday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Trulieve Cannabis in a 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.00.

Trulieve Cannabis Stock Performance

The company has a market cap of $1.98 billion and a PE ratio of 93.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.98 and a current ratio of 5.94. The business's 50-day moving average price is $11.15.

Trulieve Cannabis (NYSE:TRLV - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. Trulieve Cannabis had a negative net margin of 41.55% and a negative return on equity of 4.24%. The company had revenue of $271.00 million for the quarter, compared to analyst estimates of $268.82 million. Equities research analysts expect that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PFS Partners LLC bought a new position in Trulieve Cannabis in the third quarter valued at about $33,000. Marion Wealth Management bought a new stake in Trulieve Cannabis during the 3rd quarter worth about $109,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Trulieve Cannabis during the 3rd quarter worth about $770,000.

About Trulieve Cannabis

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.