Canopy Growth (NASDAQ:CGC) Director Sells $11,790.42 in Stock

by · The Cerbat Gem

Canopy Growth Corporation (NASDAQ:CGC – Get Free Report) Director Theresa Yanofsky sold 10,434 shares of Canopy Growth stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $1.13, for a total value of $11,790.42. Following the sale, the director directly owned 63,518 shares in the company, valued at $71,775.34. The trade was a 14.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Canopy Growth Price Performance

Shares of CGC traded up $0.05 during mid-day trading on Friday, reaching $1.19. The company had a trading volume of 19,635,403 shares, compared to its average volume of 54,636,148. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.50 and a quick ratio of 4.23. The company has a market capitalization of $438.47 million, a P/E ratio of -0.61 and a beta of 0.43. Canopy Growth Corporation has a twelve month low of $0.77 and a twelve month high of $3.07. The company’s 50-day moving average is $1.24 and its 200-day moving average is $1.29.

Canopy Growth (NASDAQ:CGC – Get Free Report) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. Canopy Growth had a negative return on equity of 61.97% and a negative net margin of 113.21%.The business had revenue of $47.86 million for the quarter, compared to analyst estimates of $71.82 million. On average, equities analysts anticipate that Canopy Growth Corporation will post -2.81 EPS for the current year.

Wall Street Analyst Weigh In

CGC has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Canopy Growth in a report on Wednesday, October 8th. Benchmark upgraded shares of Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. Alliance Global Partners reissued a “neutral” rating on shares of Canopy Growth in a report on Monday, December 15th. Finally, Wall Street Zen raised Canopy Growth from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Check Out Our Latest Analysis on CGC

Institutional Trading of Canopy Growth

Hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its holdings in shares of Canopy Growth by 35,753.8% in the third quarter. CIBC Private Wealth Group LLC now owns 100,032 shares of the company’s stock valued at $146,000 after purchasing an additional 99,753 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Canopy Growth during the 3rd quarter worth $148,000. Caitong International Asset Management Co. Ltd bought a new position in Canopy Growth in the 3rd quarter valued at $815,000. Sender Co & Partners Inc. acquired a new stake in shares of Canopy Growth in the 3rd quarter valued at $63,000. Finally, Millennium Management LLC raised its position in shares of Canopy Growth by 196.9% during the third quarter. Millennium Management LLC now owns 3,137,696 shares of the company’s stock worth $4,579,000 after acquiring an additional 2,080,994 shares during the last quarter. 3.33% of the stock is owned by institutional investors.

About Canopy Growth

(Get Free Report)

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.

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