Canopy Growth (TSE:WEED) Hits New 12-Month Low – What’s Next?

Canopy Growth Corp (TSE:WEED)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as C$1.00 and last traded at C$1.02, with a volume of 171,832 shares changing hands. The stock had previously closed at C$1.02.

Canopy Growth Stock Performance

The company has a quick ratio of 2.32, a current ratio of 3.04 and a debt-to-equity ratio of 40.27. The stock has a market capitalization of C$431.50 million, a P/E ratio of -1.52, a P/E/G ratio of -0.01 and a beta of 2.41. The stock’s 50 day moving average price is C$1.31 and its 200-day moving average price is C$1.38.

Canopy Growth (TSE:WEED) last announced its quarterly earnings results on Friday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter. The company had revenue of C$81.17 million during the quarter. Canopy Growth had a negative net margin of 73.95% and a negative return on equity of 29.85%. As a group, equities research analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insider Transactions at Canopy Growth

In other Canopy Growth news, Director David Angelo Lazzarato sold 22,380 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of C$1.29, for a total transaction of C$28,870.20. Following the completion of the sale, the director directly owned 108,237 shares of the company’s stock, valued at approximately C$139,625.73. This represents a 17.13% decrease in their ownership of the stock. Insiders sold a total of 43,492 shares of company stock valued at $56,105 in the last 90 days. 0.21% of the stock is owned by insiders.

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.