Canopy Growth (NASDAQ:CGC – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Separately, Weiss Ratings upgraded Canopy Growth from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.
View Our Latest Analysis on CGC
Canopy Growth Stock Performance
Canopy Growth (NASDAQ:CGC – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Canopy Growth had a negative return on equity of 21.59% and a negative net margin of 65.33%.The firm had revenue of $142.62 million during the quarter, compared to analysts’ expectations of $58.21 million. Analysts expect that Canopy Growth will post -0.11 earnings per share for the current fiscal year.
Insider Buying and Selling at Canopy Growth
In related news, insider Christelle Gedeon sold 58,994 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $0.97, for a total value of $57,224.18. Following the completion of the transaction, the insider owned 705,506 shares in the company, valued at $684,340.82. This trade represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Mongeau sold 135,231 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $0.97, for a total value of $131,174.07. Following the sale, the chief executive officer owned 1,723,913 shares in the company, valued at approximately $1,672,195.61. The trade was a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 224,958 shares of company stock worth $217,137. 0.16% of the stock is owned by insiders.
Institutional Investors Weigh In On Canopy Growth
Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Canopy Growth by 723.5% in the fourth 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 boosted its position in Canopy Growth by 196.9% in the 3rd 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 period. Lazard Asset Management LLC acquired a new stake in shares of Canopy Growth during the 1st quarter worth approximately $1,716,000. Finally, Two Sigma Investments LP purchased a new position in shares of Canopy Growth during the 3rd quarter valued at approximately $1,767,000. Institutional investors and hedge funds own 3.33% of the company’s stock.
Canopy Growth News Summary
Here are the key news stories impacting Canopy Growth this week:
- Positive Sentiment: Net revenue increased 13% year over year to C$81.2 million, exceeding the approximately C$58.9 million analyst consensus. Growth came from all major businesses: Canada medical cannabis rose 22%, Canada adult-use cannabis 10%, international cannabis 10% and Storz & Bickel 6%. Canopy Growth Reports First Quarter Fiscal Year 2027 Financial Results
- Positive Sentiment: Adjusted gross margin improved to 31% from 25% a year earlier, while the adjusted EBITDA loss narrowed 59% year over year. The margin improvement supports the company’s turnaround strategy and helped drive the stock higher. Canopy Growth reports fiscal first quarter revenue growth, improved margins
- Positive Sentiment: Canopy Growth reported a quarterly loss of C$0.02 per share, better than the expected C$0.04 loss and substantially improved from a C$0.14 loss in the prior-year quarter. This represented a 50% earnings surprise. Canopy Growth Corporation Reports Q1 Loss, Tops Revenue Estimates
- Neutral Sentiment: The company remains unprofitable, with a negative net margin and negative return on equity. Investors will likely focus on whether revenue momentum and cost controls can eventually produce positive EBITDA and sustainable earnings.
- Negative Sentiment: A proposed partial settlement in a securities class-action lawsuit would resolve claims against former auditor KPMG if approved, but the case would continue against Canopy Growth and other defendants, leaving a potential legal overhang. Certification and Hearing to Approve Proposed Partial Settlement
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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