Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) posted its second-quarter revenue of $102.5 million, up by 84% from $55.7 million in the same period of 2020.
On Tuesday, Phoenix, Arizona-based company also disclosed a net loss of $19.2 million, which compares to a net loss of $23.0 million in the prior quarter.
Adjusted EBITDA for the second quarter amounted to $28.0 million, versus $26.9 million in the first quarter. The gross profit margin was 51.0, compared to 42.1% in the corresponding period of 2020.
Cantor Fitzgerald’s analyst Pablo Zuanic kept a ‘Neutral’ rating on Harvest stock, placing the price target at $3.85.
To set up the price target on Harvest stock of $3.85, the analyst looked at the offer ratio from Trulieve Cannabis (OTCQX: TCNNF), 0.1170 per Trulieve share, …