Canopy Growth (NASDAQ:CGC - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.66), Zacks reports. The firm had revenue of $45.30 million for the quarter, compared to the consensus estimate of $71.84 million. Canopy Growth had a negative return on equity of 56.52% and a negative net margin of 156.98%.
Canopy Growth Stock Performance
Shares of CGC traded down $0.40 during mid-day trading on Friday, reaching $1.32. The company's stock had a trading volume of 18,349,970 shares, compared to its average volume of 5,831,930. Canopy Growth has a 1-year low of $0.77 and a 1-year high of $8.68. The stock has a market cap of $241.78 million, a P/E ratio of -0.35 and a beta of 0.79. The business has a 50-day simple moving average of $1.28 and a two-hundred day simple moving average of $2.02. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74.
Institutional Trading of Canopy Growth
A hedge fund recently raised its stake in Canopy Growth stock. Jones Financial Companies Lllp lifted its position in shares of Canopy Growth Co. (NASDAQ:CGC - Free Report) by 10,308.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 969,533 shares of the company's stock after purchasing an additional 960,218 shares during the period. Jones Financial Companies Lllp owned 0.53% of Canopy Growth worth $882,000 as of its most recent filing with the Securities and Exchange Commission. 3.33% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler reissued an "underweight" rating on shares of Canopy Growth in a research report on Friday.
Read Our Latest Stock Analysis on CGC
About Canopy Growth
(
Get Free Report)
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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