As we enter the second quarter of 2021, investors are becoming more aware of the fact that the hemp industry is booming. It was valued at $5 billion last year and it is estimated to reach more than $24 billion by 2026. Cannabis and hemp stock investors understand the massive growth potential of this emerging industry. But what are the best hemp stocks to buy now? With so many options, how do investors determine the best hemp stocks to invest in for both short and long term gains? We’ve compiled a list of the 4 hot hemp stocks to buy now.
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Hot Hemp Stock #1: Scotts Miracle Gro (SMG)
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Scotts-Miracle-Gro (NYSE: SMG) is the world’s largest maker and distributors of consumer lawn and garden products. They are the oldest company we will review in the cannabis and hemp spaces. They began in 1868 selling lawn seed in Ohio.
Their business now spans some of the most well known brands across any industry and covers almost the entire planet. It’s subsidiary, Hawthrone services all hydroponic and indoor garden business. With the explosion of the cannabis industry, Hawthorne stays incredibly busy.
SMG stock continues to outperform just about every hemp stock in the sector making it one of the 4 best hemp stocks to buy now. In its recent fourth quarter, SMG sales increased by 79% across all products and retail channels.
Scotts-Miracle expects to deliver an EPS ranging from $8 to $8.40 during the fiscal year 2021 which means yet another year of double-digit growth in earnings is visible. All told, SMG is certainly one of the 4 hot hemp stocks to buy now.
Hot Hemp Stock #2: CBDMD
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This emerging hemp company was founded in 2015 and is headquartered in Charlotte, North Carolina. cbdMD produces and distributes a wide variety of CBD products and owns several consumer hemp brands including Paw CBD and cbdMD.
cbdMD products include everything from CBD tinctures, topicals, gummies, bath bombs & salts, capsules, and sleep aids. The company also offers veterinarian-formulated products under the Paw CBD brand. cbdMD distributes products through its e-commerce portal, third-party e-commerce platforms, wholesalers, and multiple brick and mortar retailers in the U.S.
Analysts tracking cbdMD stock expect the company to increase sales by 25.9% to $52.75 million in fiscal 2021 and by 17.9% to $62.2 million in fiscal 2022. Its adjusted loss per share is also forecast to narrow from $0.13 in fiscal 2021 to $0.05 in fiscal 2022.
This suggests cbdMD is trading at a forward market cap to sales multiple of less than 4x given its market cap of $205 million which is very reasonable. Analysts expect the stock to reach $6.03 in the next 12-months which is 40% higher than its current trading price. Cannin believes cbdMD is one of the 4 hot hemp stocks to buy now.
Hot Hemp Stock #3: Tilray (TLRY)
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Having various hemp-products in its arsenal, Tilray (NASDAQ: TLRY) is one of the most notable hemp stocks which will make a mark in 2021 and well beyond. After debuting in the U.S. markets at $17 per share, the company benefitted from the earlier cannabis stock craze – shooting up to $300 per share, before plummeting to its record low of $2.43 in early 2020.
Tilray’s U.S. footprint continues to expand as the company recently acquired Manitoba Harvest, which supplies over 70% of the hemp edibles nationwide. Its products are sold widely in about 13,500 retail shops in the U.S. including Costco and Walmart.
International expansion is the growth route for many cannabis companies and Tilray plans to dominate the globe. The company exports its medicinal products to more than 13 international markets. Cannabis industry experts believe that this number is all set to double in the next few years. Because of this strong trajectory, Cannin believes Tilray is one of the 4 hot hemp stocks to buy now.
Hot Hemp Stock #4: HempFusion Wellness (CBDHF)
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HempFusion, Inc. (OTC: CBDHF) is a hemp-focused health and wellness company with an exciting trajectory making it one of the 4 hot hemp stocks to buy now. The company just received approval to launch HempFusion’s CBD products on Tmall, the world’s largest cross border online marketplace reaching more than 750 million potential new consumers across mainland China, Hong Kong, Macau and Taiwan.
HempFusion’s direct competitors (Charlotte’s Web and CV Sciences) already have market caps over $400 million. If HempFusion continues to sell in the USA, Europe, Asia and Latin America, then they’ll hit 3-5x current revenues.
We’d strongly recommend considering a position in HempFusion (OTC:CBDHF) and believe it is one of the 3 best hemp stocks to buy now. See our comprehensive fundamental analysis of HempFusion here.
4 Hot Hemp Stocks to Buy Now
Cannin.com: Your Hemp Stocks Experts
Cannin.com is your #1 resource for hot hemp stocks. Our team of financial experts evaluates all emerging hemp stock investing opportunities. We aggregate hundreds of hours of market research to provide tips on the best hemp stocks for 2021.
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Is it too late to invest in hemp stocks? No! This is the perfect time to invest.
Wall Street analysts expect the global cannabis industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in hemp stocks is now.
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