Trulieve Cannabis (NYSE:TRLV) Stock Falls 4.6% - What's Next?

Key Points

• Trulieve shares fell 4.6% in Monday mid-day trading to about $11.03, while trading volume was 56% below its average.
• Analyst views are mixed, with one Buy, one Hold and one Sell rating; MarketBeat’s consensus is Hold with a $15 average price target.
• Recent quarterly results matched earnings expectations at $0.09 per share and beat revenue estimates, reporting $230.2 million; the company nevertheless recorded a negative net margin of 41.22%.

Shares of Trulieve Cannabis Corp. (NYSE:TRLV - Get Free Report) fell 4.6% during mid-day trading on Monday. The stock traded as low as $11.01 and last traded at $11.0320. Approximately 426,238 shares changed hands during trading, a decline of 56% from the average session volume of 978,956 shares. The stock had previously closed at $11.56.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TRLV shares. Weiss Ratings restated a "sell (d-)" rating on shares of Trulieve Cannabis in a report on Friday, September 11th. Wall Street Zen cut Trulieve Cannabis from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 target price on shares of Trulieve Cannabis in a report on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.00.

Trulieve Cannabis Trading Down 6.0%

The firm has a market cap of $2.09 billion and a price-to-earnings ratio of 98.55. The company has a fifty day moving average of $11.21. The company has a quick ratio of 3.65, a current ratio of 5.52 and a debt-to-equity ratio of 0.45.

Trulieve Cannabis (NYSE:TRLV - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. The firm had revenue of $230.20 million during the quarter, compared to analysts' expectations of $221.79 million. Trulieve Cannabis had a negative net margin of 41.22% and a negative return on equity of 0.34%. As a group, sell-side analysts predict that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trulieve Cannabis

Several large investors have recently modified their holdings of TRLV. JW Asset Management LLC purchased a new stake in shares of Trulieve Cannabis during the third quarter valued at $914,000. StoneX Group Inc. acquired a new position in shares of Trulieve Cannabis in the 3rd quarter valued at $341,000. Commonwealth Equity Services LLC purchased a new position in Trulieve Cannabis in the 3rd quarter worth about $242,000. Partners Wealth Management LLC purchased a new position in Trulieve Cannabis in the 3rd quarter worth about $504,000. Finally, North Star Investment Management Corp. purchased a new position in Trulieve Cannabis in the 3rd quarter worth about $28,000.

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.

Kim Rivers is Trulieve's chief executive officer.

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.