In this article, we discuss the top 5 marijuana stocks to invest in right now. If you want to read our detailed analysis of the cannabis industry, go directly to Top 10 Marijuana Stocks to Invest In Right Now.
5. Tilray, Inc. (NASDAQ:TLRY)
Stock Price as of April 22, 2022: $5.24
Tilray, Inc. (NASDAQ:TLRY) is a multinational pharmaceutical, cannabis-lifestyle, and consumer packaged products firm based in New York City, New York.
Tilray, Inc. (NASDAQ:TLRY) reported a net income of $6 million in the second quarter of the fiscal year 2022, up from a net loss of $89 million in the previous quarter. Another financial report from the firm in 2021 stated that there is a 28% in gross profit to $123.2 million compared to $96.1 million in 2020.
In March, Tilray, Inc. (NASDAQ:TLRY) also announced that they planned commercial and financial collaboration agreements with HEXO Corp. (NASDAQ:HEXO). The planned partnership is expected to bring together Canada’s top two cannabis market share leaders.
Canaccord analyst Matt Bottomley raised Tilray, Inc. (NASDAQ:TLRY) to ‘Buy’ from ‘Hold’ with a $9 price objective after the business and HEXO Corp. (NASDAQ:HEXO) announced a prospective arrangement that involves both a financial and marketing relationship. Bottomley believes that the planned commercial agreement will result in enhanced product breadth, financial synergies, and leveraged innovation for both.
4. Green Thumb Industries Inc. (OTC:GTBIF)
Stock Price as of April 22, 2022: $15.8
Green Thumb Industries Inc. (OTC:GTBIF) manufactures, distributes, and sells different cannabis products for medicinal and recreational use in the United States. It sells cannabis flowers as well as processed and packaged cannabis goods like pre-rolls, concentrates, vapes, tinctures, edibles, topicals, and other cannabis-related items.
Stone Fox Capital reported that with the arrival of legal cannabis in New Jersey this year and recreational cannabis in New York in 2023, Green Thumb Industries Inc. (OTC:GTBIF) should see a significant increase in sales and EBITDA.
Stone Fox Capital also mentioned that the EBITDA will exceed $300 million in 2022 and $450 million in 2023. The stock is trading at less than 10x EBITDA estimates for this year and less than 7x EBITDA targets for 2023.
Following the release of the first-quarter data, Alliance Global Partners analyst Aaron Grey reduced the firm’s price objective on Green Thumb Industries Inc. (OTC:GTBIF) to C$38 from C$40 and maintained a ‘Buy’ rating on the stock. Grey reported that while margins may fall below management expectations due to price pressure, the firm should recover to targets as a result of additional adult-use states.
3. OrganiGram Holdings, Inc. (NASDAQ:OGI)
Stock Price as of April 22, 2022: $1.91
OrganiGram Holdings, Inc. (NASDAQ:OGI) provides medical cannabis to civilians and veterans, including cannabis flowers, oils, and vaporizers; adult-use recreational cannabis; and cannabis edibles.
OrganiGram Holdings, Inc. (NASDAQ:OGI) generated $3.4 million in its international revenue in its first quarter of the fiscal year 2022 after having no global sales in the fourth quarter of the fiscal year 2021.
OrganiGram Holdings, Inc. (NASDAQ:OGI) also saw a rise of 265% in edible sales to $1.9 million, a 13% increase in vape sales to $1.1 million, a 2% increase in flower sales to $21.3 million, and a 5% increase in medical sales to $2.1 million.
Analyst Matt Bottomley of Canaccord Genuity raised OrganiGram Holdings, Inc. (NASDAQ:OGI) to ‘Speculative Buy’ from ‘Hold’, with a price objective of C$3.25, up from C$3.00. Bottomley said that the company’s first-quarter financial performance constituted a second straight quarter of higher-than-expected revenues and adjusted EBITDA.
2. Ayr Wellness Inc. (CNSX:AYR-A.CN)
Stock Price as of April 22, 2022: $11.08
Ayr Wellness Inc. (CNSX:AYR-A.CN) cultivates, produces, and retails cannabis products and branded cannabis packaged goods as a vertically-integrated cannabis multi-state company.
A report released by Ayr Wellness Inc. (CNSX:AYR-A.CN) reveals that they hit a revenue of $111.8 million for the fourth quarter of 2021, which is a 16% increase from the third quarter of $96.2 million. A total of $357.6 million for the revenue of fiscal year 2021 was reported which is also a 130.6% increase from the fiscal year 2020 of $155.1 million.
Ayr Wellness Inc. (CNSX:AYR-A.CN) intends to expand to 12 to 15 states in the future, but will not seek prospects in Maine, Vermont, Washington, Oregon, or Oklahoma. New York, on the other hand, matches the firm’s profile as a potentially profitable market.
Needham analyst Matt McGinley reduced the firm’s price objective on Ayr Wellness Inc. (CNSX:AYR-A.CN) to $28 from $35 but maintains a ‘Buy’ rating on the stock ahead of the company’s fourth-quarter earnings. McGinley stated that the firm should slightly surpass its revenue growth projection of “over 10%,” but he also anticipates a fall in EBITDA rate as it supports retail addition and invests in cultivation development into fiscal year 2022.
1. Village Farms International, Inc. (NASDAQ:VFF)
Stock Price as of April 22, 2022: $4.39
Village Farms International, Inc. (NASDAQ:VFF) is a vertically integrated cannabis grower and vegetable supplier based in Delta, British Columbia, Canada.
The current enterprise value of the firm is standing at $412.6 million. Village Farms International, Inc. (NASDAQ: VFF) reported its sales to have climbed by 58% to $268,020 for December 31, 2021, compared to $170,086 on December 31, 2020.
A recent report from Stone Fox Capital suggested that Village Farms International, Inc. (NASDAQ:VFF) is “impressively profitable.”
Alliance Global Partners analyst Aaron Grey decreased the firm’s price objective on Village Farms to $17 from $20 and maintained a ‘Buy’ rating on the stock.
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