On a kind of checkered day for the markets, KushCo (OTC:KSHB) observed truly hot performance Wednesday, gaining nearly 10% in afternoon markets.
Coverage on the Cypress, Calif- company began with a Buy rating from Jefferies’ Owen Bennett, who also lavished a $3.50 price target - or a more than doubling from yesterday's close.
KushCo has one of the industry's cheapest valuations, says Bennett, but he expects multiple headwinds to soon abate.
The Sell-Side in general is quite bullish on KushCo - of nine folks covering there's not one bearish, or even neutral rating.
There are also rumblings in the ranks, with the hiring of Rhiana Barr as the Company's “Chief People Officer”. This new position was created to build and scale a "best place to work" culture and to enhance the Company's organizational capability and effectiveness as KushCo's business, workforce, and culture continue to grow and evolve.
Such illustrious firms as Nestle and Cetera Financial are on Barr’s resume.
The stock was selling at $1.73, better than Tuesday’s close by 18 cents, or 11.6%, on volume of 730,000 shares.