Trulieve Cannabis (NYSE:TRLV) Stock Jumps 7.6% – Should You Buy?

Trulieve Cannabis Corp. (NYSE:TRLV) shares were up 7.6% during mid-day trading on Monday. The company traded as high as $10.95 and last traded at $11.0650. 460,971 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 961,374 shares. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. Finally, Wall Street Zen cut shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Trading Up 3.4%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.98 and a current ratio of 5.94. The stock’s 50 day moving average is $11.20. The company has a market capitalization of $2.21 billion and a PE ratio of 104.35.

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

Institutional Trading of Trulieve Cannabis

A number of institutional investors and hedge funds have recently bought and sold shares of TRLV. North Star Investment Management Corp. purchased a new position in Trulieve Cannabis in the 3rd quarter valued at about $28,000. PFS Partners LLC acquired a new stake in shares of Trulieve Cannabis during the third quarter valued at about $33,000. Marion Wealth Management purchased a new stake in shares of Trulieve Cannabis during the third quarter worth about $109,000. Commonwealth Equity Services LLC purchased a new stake in shares of Trulieve Cannabis during the third quarter worth about $242,000. Finally, StoneX Group Inc. purchased a new stake in shares of Trulieve Cannabis during the third quarter worth about $341,000.

About Trulieve Cannabis

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.