Canopy Growth (TSE:WEED) Releases Earnings Results

Canopy Growth (TSE:WEED) released its earnings results on Friday. The company reported C($0.03) earnings per share for the quarter, FiscalAI reports. Canopy Growth had a negative return on equity of 35.48% and a negative net margin of 84.76%.The business had revenue of C$81.17 million during the quarter.

Canopy Growth Stock Performance

Shares of TSE WEED traded up C$0.04 during trading on Friday, reaching C$1.37. 1,580,663 shares of the company traded hands, compared to its average volume of 1,781,422. Canopy Growth has a 52-week low of C$1.18 and a 52-week high of C$3.28. The stock has a market capitalization of C$578.35 million, a PE ratio of -1.56, a P/E/G ratio of -0.01 and a beta of 1.38. The company has a quick ratio of 2.32, a current ratio of 3.34 and a debt-to-equity ratio of 39.95. The firm has a 50 day simple moving average of C$1.36 and a 200-day simple moving average of C$1.45.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners dropped their price objective on shares of Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Canopy Growth presently has a consensus rating of “Moderate Buy” and an average price target of C$1.88.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.