Trulieve Cannabis (NYSE:TRLV) Shares Gap Down – Time to Sell?

Trulieve Cannabis Corp. (NYSE:TRLV)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $12.41, but opened at $10.86. Trulieve Cannabis shares last traded at $10.7260, with a volume of 1,386,029 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. Wall Street Zen lowered shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Stock Down 16.4%

The company’s 50-day simple moving average is $10.53.

Trulieve Cannabis (NYSE:TRLV) last issued its quarterly earnings results 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. The company had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.82 million. As a group, analysts predict that Trulieve Cannabis Corp. will post 0.31 EPS for the current year.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes, manufactures and sells medical and adult-use cannabis products. Its product portfolio includes flower, pre-rolls, concentrates, edibles, tinctures, capsules and topical products, marketed under the Trulieve brand and other affiliated brands.

The company sells its products through a network of company-operated dispensaries and, where permitted, through wholesale and other distribution channels.