Trulieve Cannabis (NYSE:TRLV) Stock Price Up 7.7% – Here’s Why

Trulieve Cannabis Corp. (NYSE:TRLV) was up 7.7% on Tuesday . The stock traded as high as $12.40 and last traded at $12.39. Approximately 2,056,051 shares traded hands during trading, an increase of 143% from the average daily volume of 844,526 shares. The stock had previously closed at $11.50.

Wall Street Analyst Weigh In

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

Trulieve Cannabis Stock Up 0.4%

The firm has a fifty day moving average of $10.24.

Trulieve Cannabis (NYSE:TRLV) last announced its earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.82 million. As a group, analysts expect that Trulieve Cannabis Corp. will post 0.31 earnings per share for the current year.

Insider Activity at Trulieve Cannabis

In other news, CEO Kim Rivers sold 136,811 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.76, for a total transaction of $1,198,464.36. Following the transaction, the chief executive officer directly owned 1,476,913 shares in the company, valued at approximately $12,937,757.88. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.79% of the company’s stock.

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.