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

Canopy Growth Corporation (NASDAQ:CGC) Director Theresa Yanofsky sold 15,054 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $0.92, for a total transaction of $13,849.68. Following the completion of the transaction, the director owned 146,415 shares of the company’s stock, valued at $134,701.80. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Theresa Yanofsky also recently made the following trade(s):

• On Tuesday, March 31st, Theresa Yanofsky sold 10,373 shares of Canopy Growth stock. The stock was sold at an average price of $0.93, for a total value of $9,646.89.

Canopy Growth Stock Up 5.1%

CGC stock traded up $0.05 during midday trading on Monday, hitting $0.99. The stock had a trading volume of 5,823,910 shares, compared to its average volume of 10,372,365. The business has a 50-day moving average of $1.06 and a two-hundred day moving average of $1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.34 and a quick ratio of 2.64. The firm has a market cap of $445.82 million, a price-to-earnings ratio of -1.69 and a beta of 0.77. Canopy Growth Corporation has a 52-week low of $0.84 and a 52-week high of $2.38.

Canopy Growth (NASDAQ:CGC) last released its earnings results on Monday, June 15th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.11). The business had revenue of $51.22 million for the quarter, compared to analysts’ expectations of $53.43 million. Canopy Growth had a negative net margin of 75.27% and a negative return on equity of 26.95%. As a group, equities research analysts forecast that Canopy Growth Corporation will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CGC. Two Sigma Securities LLC increased its stake in Canopy Growth by 4.4% in the 2nd quarter. Two Sigma Securities LLC now owns 280,852 shares of the company’s stock worth $343,000 after buying an additional 11,942 shares during the period. Lake Street Private Wealth LLC grew its position in shares of Canopy Growth by 16.9% in the 4th quarter. Lake Street Private Wealth LLC now owns 90,300 shares of the company’s stock worth $103,000 after buying an additional 13,050 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Canopy Growth by 23.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 73,739 shares of the company’s stock worth $84,000 after purchasing an additional 13,814 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Canopy Growth in the second quarter valued at about $30,000. Finally, Octavia Wealth Advisors LLC purchased a new position in shares of Canopy Growth in the 4th quarter valued at approximately $30,000. Institutional investors own 3.33% of the company’s stock.

Analysts Set New Price Targets

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

Canopy Growth Company Profile

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.