Canopy Growth (NASDAQ:CGC) Director Theresa Yanofsky Sells 10,408 Shares

Canopy Growth Corporation (NASDAQ:CGC) Director Theresa Yanofsky sold 10,408 shares of Canopy Growth stock in a transaction on Monday, September 29th. The shares were sold at an average price of $1.58, for a total value of $16,444.64. Following the transaction, the director owned 73,952 shares in the company, valued at $116,844.16. This represents a 12.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Canopy Growth Trading Down 5.5%

Shares of NASDAQ CGC opened at $1.38 on Thursday. The business has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $1.30. The company has a current ratio of 3.07, a quick ratio of 2.12 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $330.99 million, a PE ratio of -0.46 and a beta of 0.71. Canopy Growth Corporation has a one year low of $0.77 and a one year high of $5.80.

Canopy Growth (NASDAQ:CGC) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $52.98 million for the quarter, compared to analyst estimates of $64.98 million. Canopy Growth had a negative net margin of 155.76% and a negative return on equity of 89.93%. As a group, analysts predict that Canopy Growth Corporation will post -2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research raised Canopy Growth to a “hold” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Canopy Growth

A number of large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its stake in shares of Canopy Growth by 68.4% in the first quarter. SBI Securities Co. Ltd. now owns 360,738 shares of the company’s stock worth $328,000 after buying an additional 146,488 shares during the last quarter. TD Asset Management Inc raised its holdings in Canopy Growth by 47.3% in the 1st quarter. TD Asset Management Inc now owns 112,721 shares of the company’s stock worth $104,000 after acquiring an additional 36,211 shares during the period. Mackenzie Financial Corp grew its position in shares of Canopy Growth by 56.5% in the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company’s stock valued at $47,000 after purchasing an additional 18,202 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Canopy Growth by 98.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 153,856 shares of the company’s stock valued at $140,000 after purchasing an additional 76,395 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Canopy Growth in the first quarter valued at about $255,000. Institutional investors own 3.33% of the company’s stock.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.