Key Points
- Canopy Growth director Theresa Yanofsky sold 15,054 shares on June 26 at an average price of $0.92, totaling about $13,849.68. After the sale, she still owned 146,415 shares, a 9.32% reduction in her holdings.
- The company recently missed earnings expectations, reporting a loss of $0.17 per share versus the expected loss of $0.06, while revenue came in at $51.22 million, below estimates. Analysts currently expect Canopy Growth to post a loss of $0.11 per share for the full year.
- Canopy Growth remains under pressure operationally and in the market, with a market cap of about $445.82 million and shares trading near $0.99, close to its 52-week low of $0.84. Analysts’ overall consensus rating on the stock is currently Hold.
Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) Director Theresa Yanofsky sold 15,054 shares of Canopy Growth stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $0.92, for a total value of $13,849.68. Following the completion of the transaction, the director directly owned 146,415 shares in the company, valued at approximately $134,701.80. This represents a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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
NASDAQ:CGC opened at $0.99 on Tuesday. The company has a market capitalization of $445.82 million, a PE ratio of -1.69 and a beta of 0.77. The company has a 50 day simple moving average of $1.06 and a two-hundred day simple moving average of $1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.64 and a current ratio of 3.34. Canopy Growth Corporation has a fifty-two week low of $0.84 and a fifty-two week high of $2.38.
Canopy Growth (NASDAQ:CGC - Get Free Report) last released its quarterly earnings results on Monday, June 15th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.11). The firm had revenue of $51.22 million for 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%. Research analysts anticipate that Canopy Growth Corporation will post -0.11 earnings per share for the current year.
Institutional Trading of Canopy Growth
Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of Canopy Growth by 723.5% during 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 acquiring an additional 4,037,281 shares during the period. Millennium Management LLC grew its holdings in Canopy Growth by 196.9% in the third quarter. Millennium Management LLC now owns 3,137,696 shares of the company's stock worth $4,579,000 after purchasing an additional 2,080,994 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Canopy Growth by 19,571.2% in the fourth 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 period. Lazard Asset Management LLC bought a new stake in Canopy Growth in the first quarter valued at $1,716,000. Finally, Two Sigma Investments LP bought a new stake in Canopy Growth in the third quarter valued at $1,767,000. Institutional investors own 3.33% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CGC. Canaccord Genuity Group assumed coverage on shares of Canopy Growth in a report on Friday, March 27th. They issued a "buy" rating on the stock. ATB Cormark Capital Markets upgraded Canopy Growth from a "strong sell" rating to a "moderate buy" rating in a report on Tuesday, March 17th. Wall Street Zen lowered Canopy Growth from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Finally, Weiss Ratings downgraded Canopy Growth from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".
Read Our Latest Analysis on CGC
Canopy Growth Company Profile
(
Get Free Report)
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.
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