Canopy Growth (NASDAQ:CGC) Insider Sells $23,952.15 in Stock

Canopy Growth Corporation (NASDAQ:CGC) insider Thomas Stewart sold 25,755 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $0.93, for a total transaction of $23,952.15. Following the completion of the sale, the insider owned 588,412 shares in the company, valued at approximately $547,223.16. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Thomas Carlton Stewart also recently made the following trade(s):

• On Monday, August 24th, Thomas Stewart sold 2,231 shares of Canopy Growth stock. The shares were sold at an average price of $1.47, for a total transaction of $3,279.57.

Canopy Growth Price Performance

Shares of CGC traded up $0.02 during mid-day trading on Thursday, hitting $0.94. The company’s stock had a trading volume of 1,810,634 shares, compared to its average volume of 8,133,253. The firm has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.01. The stock has a market capitalization of $421.94 million, a price-to-earnings ratio of -2.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.04 and a quick ratio of 2.39. Canopy Growth Corporation has a fifty-two week low of $0.84 and a fifty-two week high of $2.38.

Canopy Growth (NASDAQ:CGC) last released its earnings results on Friday, August 7th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Canopy Growth had a negative net margin of 65.33% and a negative return on equity of 21.91%. The business had revenue of $142.62 million for the quarter, compared to the consensus estimate of $58.21 million. On average, research analysts predict that Canopy Growth Corporation will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CGC has been the subject of several research reports. Wall Street Zen lowered Canopy Growth from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings downgraded Canopy Growth from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Canopy Growth

A number of large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Canopy Growth by 723.5% in the 4th 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 in the last quarter. Lazard Asset Management LLC acquired a new stake in Canopy Growth during the 1st quarter valued at $1,716,000. Royal Bank of Canada raised its stake in Canopy Growth by 1,115.6% during the 1st quarter. Royal Bank of Canada now owns 975,967 shares of the company’s stock valued at $927,000 after purchasing an additional 895,680 shares during the period. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Canopy Growth in the fourth quarter valued at $485,000. Institutional investors and hedge funds own 3.33% of the company’s stock.

Canopy Growth Company Profile

Canopy Growth Corporation is a cannabis company headquartered in Smiths Falls, Ontario, Canada. Founded in 2013 as Tweed Marijuana Inc, the company adopted the Canopy Growth name in 2015 and has developed a portfolio of cannabis brands serving both adult-use and medical markets.

Canopy Growth’s products include dried cannabis flower, pre-rolls, cannabis oils, softgels, edibles, beverages and vaporization products. Its brand portfolio has included Tweed, 7ACRES, Doja, Deep Space and other cannabis brands, as well as Storz & Bickel vaporization products.