Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) traded up 2.5% during mid-day trading on Tuesday . The stock traded as high as $1.26 and last traded at $1.23. 13,599,205 shares traded hands during mid-day trading, an increase of 113% from the average session volume of 6,398,236 shares. The stock had previously closed at $1.20.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler reaffirmed an "underweight" rating on shares of Canopy Growth in a report on Friday, May 30th.
Read Our Latest Stock Report on Canopy Growth
Canopy Growth Trading Down 4.6%
The business has a 50-day moving average of $1.41 and a 200-day moving average of $1.59. The company has a quick ratio of 2.10, a current ratio of 3.12 and a debt-to-equity ratio of 0.62. The stock has a market cap of $208.69 million, a price-to-earnings ratio of -0.28 and a beta of 0.73.
Canopy Growth (NASDAQ:CGC - Get Free Report) last announced its quarterly earnings results on Friday, May 30th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.66). The business had revenue of $45.30 million for the quarter, compared to analyst estimates of $71.84 million. Canopy Growth had a negative return on equity of 88.54% and a negative net margin of 195.76%. As a group, research analysts forecast that Canopy Growth Corporation will post -2.81 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CGC. Jones Financial Companies Lllp grew its holdings in shares of Canopy Growth by 222.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company's stock worth $26,000 after purchasing an additional 6,430 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Canopy Growth by 81.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,336 shares of the company's stock worth $41,000 after buying an additional 14,498 shares in the last quarter. OLD Mission Capital LLC raised its stake in shares of Canopy Growth by 41.6% in the 4th quarter. OLD Mission Capital LLC now owns 51,066 shares of the company's stock valued at $140,000 after buying an additional 15,000 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Canopy Growth during the 4th quarter worth about $41,000. Finally, Two Sigma Securities LLC boosted its position in shares of Canopy Growth by 150.1% during the 4th quarter. Two Sigma Securities LLC now owns 26,517 shares of the company's stock valued at $73,000 after acquiring an additional 15,916 shares in the last quarter. Institutional investors and hedge funds own 3.33% of the company's stock.
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.
See Also
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
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.