Canopy Growth Corporation (NASDAQ:CGC – Get Free Report) insider Christelle Gedeon sold 58,994 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $0.97, for a total transaction of $57,224.18. Following the transaction, the insider owned 705,506 shares in the company, valued at $684,340.82. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Canopy Growth Stock Performance
Shares of NASDAQ CGC traded down $0.01 during trading hours on Monday, reaching $0.96. 3,924,601 shares of the stock were exchanged, compared to its average volume of 10,644,430. The firm has a market capitalization of $386.78 million, a price-to-earnings ratio of -1.62 and a beta of 0.77. The stock’s fifty day simple moving average is $1.08 and its 200 day simple moving average is $1.13. 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 52 week low of $0.84 and a 52 week high of $2.38.
Canopy Growth (NASDAQ:CGC – Get Free Report) last released its earnings results on Monday, June 15th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). Canopy Growth had a negative net margin of 75.27% and a negative return on equity of 26.95%. The company had revenue of $51.22 million for the quarter, compared to the consensus estimate of $53.43 million. Sell-side analysts predict that Canopy Growth Corporation will post -0.11 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Analysis on CGC
Institutional Trading of Canopy Growth
Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in Canopy Growth by 122.7% in the fourth quarter. Bank of Montreal Can now owns 25,174 shares of the company’s stock worth $29,000 after purchasing an additional 135,970 shares during the period. Octavia Wealth Advisors LLC acquired a new position in shares of Canopy Growth during the fourth quarter valued at about $30,000. Boothbay Fund Management LLC acquired a new position in shares of Canopy Growth during the second quarter valued at about $30,000. PCG Wealth Advisors LLC bought a new position in shares of Canopy Growth during the 4th quarter worth about $32,000. Finally, Insigneo Advisory Services LLC boosted its position in shares of Canopy Growth by 168.7% during the 3rd quarter. Insigneo Advisory Services LLC now owns 43,001 shares of the company’s stock worth $63,000 after purchasing an additional 27,000 shares in the last quarter. Institutional investors own 3.33% of the company’s stock.
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.
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