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

Canopy Growth Corporation (NASDAQ:CGC) Director Theresa Yanofsky sold 15,054 shares of Canopy Growth stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $0.92, for a total value of $13,849.68. Following the completion of the transaction, the director owned 146,415 shares in the company, valued at approximately $134,701.80. This represents a 9.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $0.93, for a total transaction of $9,646.89.

Canopy Growth Trading Up 5.1%

Shares of Canopy Growth stock opened at $0.99 on Tuesday. The firm has a market capitalization of $445.82 million, a PE ratio of -1.69 and a beta of 0.77. The company has a current ratio of 3.34, a quick ratio of 2.64 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $1.06 and its 200 day moving average is $1.12. Canopy Growth Corporation has a 1 year low of $0.84 and a 1 year high of $2.38.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CGC. 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. Canaccord Genuity Group started coverage on Canopy Growth in a report on Friday, March 27th. They issued a “buy” rating for the company. Wall Street Zen downgraded Canopy Growth from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Finally, Weiss Ratings lowered Canopy Growth from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Canopy Growth has an average rating of “Hold”.

Hedge Funds Weigh In On Canopy Growth

Large investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of Canopy Growth by 31.5% during the second quarter. Tidal Investments LLC now owns 5,033,793 shares of the company’s stock worth $6,141,000 after purchasing an additional 1,204,530 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Canopy Growth by 723.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,595,330 shares of the company’s stock valued at $5,239,000 after purchasing an additional 4,037,281 shares during the period. Millennium Management LLC increased its holdings in Canopy Growth by 196.9% in the third quarter. Millennium Management LLC now owns 3,137,696 shares of the company’s stock valued at $4,579,000 after purchasing an additional 2,080,994 shares during the period. Northwestern Mutual Wealth Management Co. raised 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 during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Canopy Growth during the 1st quarter worth $1,716,000. Institutional investors own 3.33% of the company’s stock.

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.