Canopy Growth (NASDAQ:CGC) Director Sells $13,849.68 in Stock

Canopy Growth Corporation (NASDAQ:CGC) Director Theresa Yanofsky sold 15,054 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $0.92, for a total transaction of $13,849.68. Following the transaction, the director owned 146,415 shares of the company’s stock, valued at approximately $134,701.80. This represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Theresa Yanofsky also recently made the following trade(s):

• On Tuesday, March 31st, Theresa Yanofsky sold 10,373 shares of Canopy Growth stock. The shares were sold at an average price of $0.93, for a total value of $9,646.89.

Canopy Growth Stock Performance

Canopy Growth stock opened at $0.95 on Thursday. The company has a quick ratio of 2.64, a current ratio of 3.34 and a debt-to-equity ratio of 0.31. The stock has a market cap of $425.42 million, a PE ratio of -1.61 and a beta of 0.79. Canopy Growth Corporation has a 12-month low of $0.84 and a 12-month high of $2.38. The business’s 50-day moving average price is $1.05 and its two-hundred day moving average price is $1.12.

Canopy Growth (NASDAQ:CGC) last posted its earnings results on Monday, June 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $53.43 million. Canopy Growth had a negative return on equity of 26.95% and a negative net margin of 75.27%. As a group, analysts expect that Canopy Growth Corporation will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Canopy Growth by 723.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,595,330 shares of the company’s stock valued at $5,239,000 after buying an additional 4,037,281 shares during the last quarter. Millennium Management LLC increased its position in Canopy Growth by 196.9% during the 3rd quarter. Millennium Management LLC now owns 3,137,696 shares of the company’s stock valued at $4,579,000 after purchasing an additional 2,080,994 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Canopy Growth by 19,571.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,022,197 shares of the company’s stock worth $2,305,000 after purchasing an additional 2,011,917 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Canopy Growth in the 1st quarter worth approximately $1,716,000. Finally, Two Sigma Investments LP bought a new stake in shares of Canopy Growth in the 3rd quarter valued at $1,767,000. 3.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CGC has been the topic of a number of research reports. Weiss Ratings raised shares of Canopy Growth from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Wall Street Zen downgraded Canopy Growth from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Canaccord Genuity Group began coverage on Canopy Growth in a research report on Friday, March 27th. They set a “buy” rating on the stock. Finally, ATB Cormark Capital Markets raised Canopy Growth from a “strong sell” rating to a “moderate buy” rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Canopy Growth Company Profile

Canopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.

The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.