Canopy Growth (NASDAQ:CGC - Get Free Report) issued its quarterly earnings results on Friday. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.66), Zacks reports. Canopy Growth had a negative return on equity of 56.52% and a negative net margin of 156.98%. The firm had revenue of $45.30 million for the quarter, compared to analysts' expectations of $71.84 million.
Canopy Growth Trading Up 0.8%
NASDAQ:CGC traded up $0.01 during trading hours on Tuesday, hitting $1.22. The company had a trading volume of 4,170,294 shares, compared to its average volume of 5,855,551. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $1.28 and a 200 day moving average of $1.99. The company has a market cap of $224.24 million, a P/E ratio of -0.32 and a beta of 0.79. Canopy Growth has a 1 year low of $0.77 and a 1 year high of $8.68.
Analyst Ratings Changes
Separately, Piper Sandler reiterated an "underweight" rating on shares of Canopy Growth in a research report on Friday.
Read Our Latest Analysis on Canopy Growth
Institutional Trading of Canopy Growth
An institutional investor recently raised its position in Canopy Growth stock. Goldman Sachs Group Inc. increased its position in shares of Canopy Growth Co. (NASDAQ:CGC - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,278 shares of the company's stock after acquiring an additional 129,620 shares during the period. Goldman Sachs Group Inc. owned about 0.18% of Canopy Growth worth $301,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.33% of the company's stock.
Canopy Growth Company Profile
(
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.
Featured Articles
Before you consider Canopy Growth, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canopy Growth wasn't on the list.
While Canopy Growth currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
