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

Key Points

• Trulieve shares rose above their 50-day moving average of $11.20, reaching $12.00 intraday before last trading at $11.4790.
• Analyst views are mixed: one Buy, one Hold, and one Sell, for an overall Hold rating and an average price target of $15.00.
• In its latest reported quarter, Trulieve earned $0.11 per share, beating the $0.06 consensus estimate, and recorded $271 million in revenue versus expectations of $268.82 million.

Shares of Trulieve Cannabis Corp. (NYSE:TRLV - Get Free Report) 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.

Analysts Set New Price Targets

TRLV has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price target on shares of Trulieve Cannabis in a research report on Monday. Finally, Wall Street Zen lowered shares of Trulieve Cannabis from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.00.

Trulieve Cannabis Price Performance

The company has a quick ratio of 3.98, a current ratio of 5.94 and a debt-to-equity ratio of 0.45. The firm's 50-day moving average is $11.20. The firm has a market cap of $2.21 billion and a price-to-earnings ratio of 104.35.

Trulieve Cannabis (NYSE:TRLV - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Trulieve Cannabis had a negative return on equity of 4.24% and a negative net margin of 41.55%. The firm had revenue of $271.00 million during the quarter, compared to the consensus estimate of $268.82 million. On average, analysts predict that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trulieve Cannabis

Several hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC purchased a new stake in shares of Trulieve Cannabis in the third quarter valued at $770,000. Partners Wealth Management LLC acquired a new stake in shares of Trulieve Cannabis during the third quarter valued at $504,000. StoneX Group Inc. purchased a new stake in Trulieve Cannabis during the 3rd quarter worth about $341,000. Commonwealth Equity Services LLC purchased a new stake in Trulieve Cannabis during the 3rd quarter worth about $242,000. Finally, Marion Wealth Management purchased a new stake in Trulieve Cannabis during the 3rd quarter worth about $109,000.

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.

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