Canopy Growth (NASDAQ:CGC) Director Theresa Yanofsky Sells 10,408 Shares

Key Points

• Canopy Growth Director Theresa Yanofsky sold 10,408 shares at an average price of $1.58, reducing her stake by 12.34%.
• Following the sale, the company's stock price has decreased by 7.0%, reaching $1.46 in trading, with significant trading volume of 37,295,959 shares.
• Canopy Growth reported a net loss of ($0.14) earnings per share for the last quarter, with actual revenue of $52.98 million, falling short of analyst expectations.

Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) Director Theresa Yanofsky sold 10,408 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $1.58, for a total value of $16,444.64. Following the sale, the director owned 73,952 shares in the company, valued at $116,844.16. This trade represents a 12.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Canopy Growth Trading Down 7.0%

Shares of CGC traded down $0.11 during trading hours on Tuesday, hitting $1.46. The stock had a trading volume of 37,295,959 shares, compared to its average volume of 12,352,060. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.12 and a current ratio of 3.07. The firm has a market cap of $350.18 million, a P/E ratio of -0.48 and a beta of 0.76. The company's fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.30. Canopy Growth Corporation has a 12-month low of $0.77 and a 12-month high of $5.80.

Canopy Growth (NASDAQ:CGC - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $52.98 million for the quarter, compared to analyst estimates of $64.98 million. Canopy Growth had a negative return on equity of 89.93% and a negative net margin of 155.76%. Equities research analysts forecast that Canopy Growth Corporation will post -2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Canopy Growth to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Sell".

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in Canopy Growth by 77.6% in the second quarter. Osaic Holdings Inc. now owns 75,335 shares of the company's stock valued at $92,000 after purchasing an additional 32,927 shares during the period. Two Sigma Securities LLC grew its stake in shares of Canopy Growth by 4.4% during the second quarter. Two Sigma Securities LLC now owns 280,852 shares of the company's stock valued at $343,000 after acquiring an additional 11,942 shares in the last quarter. Tidal Investments LLC grew its stake 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 valued at $6,141,000 after acquiring an additional 1,204,530 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Canopy Growth during the second quarter valued at about $30,000. Finally, Murchinson Ltd. acquired a new stake in shares of Canopy Growth during the second quarter valued at about $183,000. 3.33% of the stock is owned by hedge funds and other institutional investors.

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 the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

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