Trulieve Cannabis (NYSE:TRLV) Stock Price Down 4.6% – Should You Sell?

Trulieve Cannabis Corp. (NYSE:TRLV)’s share price traded down 4.6% on Monday. The stock traded as low as $11.01 and last traded at $11.0320. 426,238 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 978,956 shares. The stock had previously closed at $11.56.

Analyst Ratings Changes

TRLV has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a research note on Monday, November 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trulieve Cannabis has a consensus rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Stock Down 6.0%

The stock’s 50-day simple moving average is $11.21. The firm has a market capitalization of $2.09 billion and a PE ratio of 98.55. 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) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Trulieve Cannabis had a negative return on equity of 0.34% and a negative net margin of 41.22%. The firm had revenue of $230.20 million during the quarter, compared to analyst estimates of $221.79 million. As a group, sell-side analysts predict that Trulieve Cannabis Corp. will post 0.31 EPS for the current year.

Institutional Trading of Trulieve Cannabis

A number of hedge funds have recently made changes to their positions in TRLV. JW Asset Management LLC acquired a new stake in shares of Trulieve Cannabis during the third quarter worth approximately $914,000. Prime Capital Investment Advisors LLC acquired a new position in Trulieve Cannabis in the 3rd quarter valued at approximately $770,000. Partners Wealth Management LLC acquired a new position in Trulieve Cannabis in the 3rd quarter valued at approximately $504,000. StoneX Group Inc. acquired a new position in Trulieve Cannabis in the 3rd quarter valued at approximately $341,000. Finally, Commonwealth Equity Services LLC acquired a new position in Trulieve Cannabis in the 3rd quarter valued at approximately $242,000.

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.