Canopy Growth (TSE:WEED) Hits New 52-Week Low – Here’s Why

Canopy Growth Corp (TSE:WEED) reached a new 52-week low during trading on Wednesday. The stock traded as low as C$1.03 and last traded at C$1.04, with a volume of 555,289 shares trading hands. The stock had previously closed at C$1.08.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered their price objective on shares of Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$1.88.

Canopy Growth Trading Down 5.6%

The company has a debt-to-equity ratio of 40.27, a quick ratio of 2.32 and a current ratio of 3.04. The stock has a market capitalization of C$431.50 million, a PE ratio of -1.52, a PEG ratio of -0.01 and a beta of 2.41. The stock has a 50-day moving average price of C$1.33 and a two-hundred day moving average price of C$1.39.

Canopy Growth (TSE:WEED) last announced its quarterly earnings data on Friday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter. The company had revenue of C$81.17 million for the quarter. Canopy Growth had a negative net margin of 73.95% and a negative return on equity of 29.85%. As a group, equities analysts forecast that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Canopy Growth news, Director David Angelo Lazzarato sold 22,380 shares of Canopy Growth stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of C$1.29, for a total transaction of C$28,870.20. Following the transaction, the director owned 108,237 shares of the company’s stock, valued at C$139,625.73. The trade was a 17.13% decrease in their ownership of the stock. Insiders have sold a total of 43,492 shares of company stock worth $56,105 over the last quarter. 0.21% of the stock is owned by insiders.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.