Key Points
- Canopy Growth insider Thomas Stewart sold 25,755 shares at an average price of $0.93, generating $23,952.15 and reducing his ownership by 4.19% to 588,412 shares.
- Canopy Growth shares opened at $0.94, with a market capitalization of approximately $421.9 million and a 52-week trading range of $0.84 to $2.38.
- The company exceeded quarterly expectations with an adjusted EPS loss of $0.02 versus the estimated $0.04 loss, while revenue reached $142.62 million; analysts maintain a consensus “Hold” rating.
Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) insider Thomas Stewart sold 25,755 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $0.93, for a total value of $23,952.15. Following the sale, the insider directly owned 588,412 shares of the company's stock, valued at approximately $547,223.16. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Thomas Carlton Stewart also recently made the following trade(s):
- On Monday, August 24th, Thomas Stewart sold 2,231 shares of Canopy Growth stock. The shares were sold at an average price of $1.47, for a total transaction of $3,279.57.
Canopy Growth Stock Up 2.6%
Canopy Growth stock opened at $0.94 on Friday. The stock has a market capitalization of $421.94 million, a PE ratio of -2.09 and a beta of 0.83. Canopy Growth Corporation has a twelve month low of $0.84 and a twelve month high of $2.38. The company has a quick ratio of 2.39, a current ratio of 3.04 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $0.96 and a 200-day moving average of $1.01.
Canopy Growth (NASDAQ:CGC - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $142.62 million during the quarter, compared to the consensus estimate of $58.21 million. Canopy Growth had a negative net margin of 65.33% and a negative return on equity of 21.91%. On average, equities research analysts anticipate that Canopy Growth Corporation will post -0.1 EPS for the current fiscal year.
Institutional Trading of Canopy Growth
Hedge funds and other institutional investors have recently modified their holdings of the stock. SLT Holdings LLC acquired a new position in Canopy Growth during the fourth quarter valued at approximately $484,000. Foundations Investment Advisors LLC bought a new stake in shares of Canopy Growth during the 4th quarter worth approximately $485,000. Royal Bank of Canada boosted its holdings in shares of Canopy Growth by 1,115.6% in the 1st quarter. Royal Bank of Canada now owns 975,967 shares of the company's stock valued at $927,000 after buying an additional 895,680 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Canopy Growth in the first quarter valued at $1,716,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Canopy Growth by 19,571.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,022,197 shares of the company's stock worth $2,305,000 after buying an additional 2,011,917 shares during the last quarter. Institutional investors and hedge funds own 3.33% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on CGC shares. Wall Street Zen cut Canopy Growth from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Weiss Ratings downgraded shares of Canopy Growth from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on CGC
Canopy Growth Company Profile
(
Get Free Report)
Canopy Growth Corporation is a cannabis company headquartered in Smiths Falls, Ontario, Canada. Founded in 2013 as Tweed Marijuana Inc, the company adopted the Canopy Growth name in 2015 and has developed a portfolio of cannabis brands serving both adult-use and medical markets.
Canopy Growth's products include dried cannabis flower, pre-rolls, cannabis oils, softgels, edibles, beverages and vaporization products. Its brand portfolio has included Tweed, 7ACRES, Doja, Deep Space and other cannabis brands, as well as Storz & Bickel vaporization products.
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