Who is this guy? Pablo Zuanic The Analyst
Cantor Fitzgerald's analyst Pablo Zuanic lowered the price on HEXO shares to CA$2.29 ($1.85) from CA$3.45, maintaining a neutral rating after projecting that the company will miss sales estimates for the quarter by 15%.
And, it seems that stock will continue to drop further, added Zuanic who expects HEXO will post a negative adjusted EBITDA of CA$4.3 million, compared with a consensus of a negative adjusted EBITDA of CA$5.1 million.
"We estimate it ended July with $53Mn in net cash," the analyst said.