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C21 Investments ( (TSE:CXXI) ) just unveiled an update.
C21 Investments Inc. has announced the renewal of its normal course issuer bid (NCIB), allowing the company to purchase up to 5% of its common shares over a 12-month period. This move is aimed at increasing long-term shareholder value by capitalizing on what the company perceives as an undervaluation of its shares. The purchases will be funded with cash on hand and conducted through the Canadian Securities Exchange. The company believes this strategy is an appropriate use of its financial resources and has appointed Haywood Securities Inc. to manage the transactions.
The most recent analyst rating on (TSE:CXXI) stock is a Hold with a C$0.44 price target. To see the full list of analyst forecasts on C21 Investments stock, see the TSE:CXXI Stock Forecast page.
Spark’s Take on TSE:CXXI Stock
According to Spark, TipRanks’ AI Analyst, TSE:CXXI is a Neutral.
C21 Investments’ overall stock score is driven by its mixed financial performance and weak valuation. While there is some revenue growth, the company faces significant profitability and cash flow challenges. Technical indicators provide a neutral outlook, with short-term positive momentum. The lack of earnings call data and corporate events means these factors do not influence the score.
To see Spark’s full report on TSE:CXXI stock, click here.
More about C21 Investments
C21 Investments Inc. is a vertically integrated cannabis company based in Vancouver, Canada. It cultivates, processes, and distributes cannabis and hemp-derived consumer products in the United States, focusing on strategic market acquisitions and integration. The company owns several brands including Silver State Relief and Silver State Cultivation in Nevada, and legacy Oregon brands such as Phantom Farms, Hood Oil, and Eco Firma Farms, producing a wide range of THC and CBD products.
Average Trading Volume: 50,912
Technical Sentiment Signal: Buy
Current Market Cap: C$100.3M
For an in-depth examination of CXXI stock, go to TipRanks’ Overview page.