Canopy Growth Co. (NASDAQ:CGC) Director Sells $12,711.03 in Stock

Canopy Growth Co. (NASDAQ:CGC) Director Theresa Yanofsky sold 1,983 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $6.41, for a total value of $12,711.03. Following the transaction, the director now owns 26,186 shares in the company, valued at approximately $167,852.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Canopy Growth Stock Performance

Shares of CGC stock opened at $6.49 on Friday. Canopy Growth Co. has a 12 month low of $2.76 and a 12 month high of $19.20. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $8.44 and its two-hundred day moving average is $6.36.

Canopy Growth (NASDAQ:CGC) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) 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 company had revenue of $53.99 million for the quarter, compared to the consensus estimate of $52.71 million. Sell-side analysts predict that Canopy Growth Co. will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Canopy Growth

Hedge funds have recently modified their holdings of the business. Genesee Capital Advisors LLC boosted its position in shares of 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 acquiring an additional 3,000 shares during the period. PCG Wealth Advisors LLC lifted its position in Canopy Growth by 73.6% in the first 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 during the period. Concurrent Investment Advisors LLC bought a new position in Canopy Growth in the first quarter worth $289,000. Gainplan LLC bought a new position in Canopy Growth in the first quarter worth $302,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Canopy Growth in the first quarter worth $475,000. 3.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Atb Cap Markets upgraded Canopy Growth to a “hold” rating in a report on Monday, June 17th.

Canopy Growth Company Profile

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.