Canopy Growth Co. (NASDAQ:CGC – Get Free Report)’s share price rose 5.8% during mid-day trading on Wednesday . The company traded as high as $6.63 and last traded at $6.62. Approximately 545,673 shares were traded during trading, a decline of 95% from the average daily volume of 10,063,164 shares. The stock had previously closed at $6.26.
Analyst Upgrades and Downgrades
Separately, Atb Cap Markets raised shares of Canopy Growth to a “hold” rating in a research note on Monday, June 17th.
Get Our Latest Report on Canopy Growth
Canopy Growth Price Performance
Canopy Growth (NASDAQ:CGC – Get Free Report) last announced its earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.05. Canopy Growth had a negative return on equity of 62.67% and a negative net margin of 185.77%. The business had revenue of $53.99 million during the quarter, compared to analyst estimates of $52.71 million. As a group, research analysts anticipate that Canopy Growth Co. will post -1.08 EPS for the current fiscal year.
Insider Activity at Canopy Growth
In other news, Director Willy Kruh sold 3,738 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $9.94, for a total transaction of $37,155.72. Following the transaction, the director now owns 17,295 shares of the company’s stock, valued at approximately $171,912.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 7,545 shares of company stock worth $67,997. Company insiders own 0.35% of the company’s stock.
Institutional Investors Weigh In On Canopy Growth
Institutional investors have recently added to or reduced their stakes in the stock. PCG Wealth Advisors LLC boosted its position in shares of Canopy Growth by 73.6% in the 1st quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock worth $271,000 after purchasing an additional 13,300 shares in the last quarter. Genesee Capital Advisors LLC raised its stake in Canopy Growth by 29.9% in the first quarter. Genesee Capital Advisors LLC now owns 13,047 shares of the company’s stock valued at $113,000 after buying an additional 3,000 shares during the last quarter. Gainplan LLC acquired a new stake in Canopy Growth in the first quarter worth about $302,000. SG Americas Securities LLC purchased a new stake in shares of Canopy Growth during the first quarter worth about $740,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Canopy Growth during the first quarter valued at about $289,000. Institutional investors own 3.33% of the company’s stock.
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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