Trulieve Cannabis (NYSE:TRLV) Stock Falls 6.4% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a report on Friday. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Stock 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 company has a market cap of $1.98 billion and a P/E ratio of 93.50. The firm has a 50-day moving average price of $11.15.

Trulieve Cannabis (NYSE:TRLV) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $271.00 million for the quarter, compared to the consensus estimate of $268.82 million. Trulieve Cannabis had a negative net margin of 41.55% and a negative return on equity of 4.24%. As a group, sell-side analysts anticipate that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trulieve Cannabis

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

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.