Theresa Yanofsky Sells 15,054 Shares of Canopy Growth (NASDAQ:CGC) Stock

Canopy Growth Corporation (NASDAQ:CGCGet Free Report) Director Theresa Yanofsky sold 15,054 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $0.92, for a total transaction of $13,849.68. Following the completion of the sale, the director directly owned 146,415 shares in the company, valued at $134,701.80. This represents a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

Canopy Growth stock traded up $0.05 during midday trading on Monday, reaching $0.99. 5,823,910 shares of the company’s stock were exchanged, compared to its average volume of 10,372,365. Canopy Growth Corporation has a 52 week low of $0.84 and a 52 week high of $2.38. The firm has a market cap of $445.82 million, a price-to-earnings ratio of -1.69 and a beta of 0.77. The stock’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $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 (NASDAQ:CGCGet Free Report) last released its quarterly earnings results on Monday, June 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The business 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%. On average, analysts expect that Canopy Growth Corporation will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Canopy Growth

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boothbay Fund Management LLC purchased a new stake in Canopy Growth during the second quarter valued at about $30,000. Bank of Montreal Can boosted its holdings in shares of Canopy Growth by 122.7% during 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 bought a new stake in shares of Canopy Growth in the fourth quarter worth about $30,000. PCG Wealth Advisors LLC bought a new stake in shares of Canopy Growth in the fourth quarter worth about $32,000. Finally, Insigneo Advisory Services LLC increased its holdings in Canopy Growth by 168.7% during the 3rd quarter. Insigneo Advisory Services LLC now owns 43,001 shares of the company’s stock valued at $63,000 after purchasing an additional 27,000 shares during the period. Institutional investors own 3.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CGC. Canaccord Genuity Group began coverage on Canopy Growth in a research note on Friday, March 27th. They issued a “buy” rating for the company. ATB Cormark Capital Markets raised Canopy Growth from a “strong sell” rating to a “moderate buy” rating in a report on Tuesday, March 17th. Weiss Ratings downgraded shares of Canopy Growth from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of Canopy Growth from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Check Out 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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