CannTrust (NYSE:CTST) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of CannTrust (NYSE:CTST) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The brokerage currently has $3.00 price objective on the stock.

According to Zacks, “CannTrust Holdings Inc. operates as a pharmaceutical company. It develops and produces medical cannabis for health care sectors. CannTrust Holdings Inc. is based in Vaughan, Canada. “

CTST has been the subject of a number of other research reports. Eight Capital lowered CannTrust from a buy rating to a neutral rating in a research report on Monday, July 8th. Roth Capital initiated coverage on Electrameccanica Vehicles in a report on Tuesday, July 9th. They set a buy rating on the stock. BMO Capital Markets upgraded Tourmaline Oil from a market perform rating to an outperform rating in a report on Thursday, May 30th. Bloom Burton downgraded CannTrust from a buy rating to a hold rating in a report on Wednesday, July 10th. Finally, Paradigm Capital reiterated a buy rating on shares of CannTrust in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of C$7.25.

CTST opened at C$2.77 on Wednesday. The firm’s 50 day simple moving average is C$4.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.64 and a quick ratio of 3.38. CannTrust has a one year low of C$2.43 and a one year high of C$11.97.

CannTrust (NYSE:CTST) last released its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.14. The business had revenue of C$16.85 million during the quarter, compared to analyst estimates of C$17.00 million. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. CannTrust’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 EPS. Equities research analysts forecast that CannTrust will post -0.01 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of CTST. PNC Financial Services Group Inc. purchased a new position in shares of CannTrust during the 1st quarter worth approximately $26,000. Shell Asset Management Co. purchased a new position in shares of CannTrust during the 1st quarter worth approximately $41,000. Paragon Capital Management LLC purchased a new position in shares of CannTrust during the 1st quarter worth approximately $54,000. Winslow Evans & Crocker Inc. purchased a new position in shares of CannTrust during the 1st quarter worth approximately $56,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of CannTrust during the 1st quarter worth approximately $100,000. Hedge funds and other institutional investors own 5.79% of the company’s stock.

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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