Canopy Growth Corporation (NASDAQ:CGC – Get Free Report) insider Christelle Gedeon sold 13,344 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $1.47, for a total value of $19,615.68. Following the sale, the insider directly owned 692,162 shares of the company’s stock, valued at $1,017,478.14. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Christelle Gedeon also recently made the following trade(s):
- On Wednesday, June 17th, Christelle Gedeon sold 58,994 shares of Canopy Growth stock. The shares were sold at an average price of $0.97, for a total value of $57,224.18.
Canopy Growth Stock Down 2.4%
Shares of NASDAQ:CGC opened at $1.01 on Friday. The stock has a market cap of $453.79 million, a price-to-earnings ratio of -2.24 and a beta of 0.81. The company has a quick ratio of 2.39, a current ratio of 3.04 and a debt-to-equity ratio of 0.31. Canopy Growth Corporation has a 12-month low of $0.84 and a 12-month high of $2.38. The business’s 50 day moving average is $0.96 and its 200 day moving average is $1.03.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on CGC shares. Weiss Ratings raised shares of Canopy Growth from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen raised Canopy Growth from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Canopy Growth presently has an average rating of “Hold”.
Check Out Our Latest Stock Report on Canopy Growth
Hedge Funds Weigh In On Canopy Growth
Institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC purchased a new stake in shares of Canopy Growth during the 2nd quarter worth approximately $30,000. Bank of Montreal Can grew its holdings in Canopy Growth by 122.7% during the fourth quarter. Bank of Montreal Can now owns 25,174 shares of the company’s stock valued at $29,000 after purchasing an additional 135,970 shares during the period. PCG Wealth Advisors LLC bought a new position in Canopy Growth during the fourth quarter valued at $32,000. Sender Co & Partners Inc. purchased a new stake in Canopy Growth in the third quarter worth $63,000. Finally, WINTON GROUP Ltd purchased a new stake in Canopy Growth in the fourth quarter worth $63,000. Institutional investors own 3.33% of the company’s stock.
About Canopy Growth
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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