Hydropothecary’s performance so far
Hydropothecary (HYYDF) has done much better than other cannabis producers (HMMJ) such as Cronos (CRON), Aphria (APHQF), and Aurora Cannabis (ACB) (ACBFF). The stock has returned about 4.9% YTD (year-to-date) as of August 7, and it is one of the few cannabis stocks to be in the positive territory so far this year. Interestingly, more analysts are covering the stock compared to Aurora Cannabis.
The consensus ratings on Hydropothecary remained unchanged from the last month. The overall recommendation for the company was a “buy” over the next-12-month period. Out of the seven analysts in the above chart, two maintained a “strong buy” recommendation on the stock, the same as in July, while five analysts maintained a “buy” on the company for the next 12 months. None of the analysts had a “hold” or “sell” recommendation on the stock.
While the overall recommendation on Hydropothecary remained largely unchanged, the consensus price target rose to 8.6 Canadian dollars from 7.8 Canadian dollars a month ago. Hydropothecary closed at 3.6 Canadian dollars as of August 7, and the consensus price target represents a 138% upside from the current level. The median price target also rose to 7.8 Canadian dollars from 7.5 a month ago, representing an upside potential of over 108%.
Next, we’ll look at Organigram (OGRMF).