Bloom Burton Upgrades CannTrust (CTST) to “Buy”

CannTrust (NYSE:CTST) was upgraded by Bloom Burton from an “accumulate” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports.

Separately, Zacks Investment Research raised CannTrust from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Tuesday, April 2nd.

CannTrust stock opened at C$6.21 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.65 and a quick ratio of 5.54. CannTrust has a 12-month low of C$4.35 and a 12-month high of C$11.97. The stock has a market capitalization of $642.29 million, a P/E ratio of -56.45 and a beta of 4.05.

CannTrust (NYSE:CTST) last released its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.05) by C$0.14. The business had revenue of C$16.85 million during the quarter, compared to analysts’ expectations of C$17.00 million. CannTrust had a negative return on equity of 7.34% and a negative net margin of 28.09%. The firm’s revenue for the quarter was up 114.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. As a group, sell-side analysts predict that CannTrust will post -0.01 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Winslow Evans & Crocker Inc. bought a new stake in CannTrust during the 1st quarter worth about $56,000. K.J. Harrison & Partners Inc bought a new stake in CannTrust during the 1st quarter worth about $100,000. Legacy Advisors LLC bought a new stake in CannTrust during the 1st quarter worth about $1,555,000. Paragon Capital Management LLC bought a new stake in CannTrust during the 1st quarter worth about $54,000. Finally, Davis Rea LTD. bought a new stake in CannTrust during the 1st quarter worth about $3,846,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

About CannTrust

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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