Canopy Growth (TSE:WEED) Director David Angelo Lazzarato Sells 22,380 Shares of Company Stock

Key Points

• Director David Angelo Lazzarato sold 22,380 Canopy Growth shares at an average price of C$1.29, generating C$28,870.20 and reducing his holdings by 17.13% to 108,237 shares.
• Canopy Growth shares fell to C$1.27, near their one-year low of C$1.18. The company reported a quarterly loss of C$0.03 per share on C$81.17 million in revenue, alongside negative profitability metrics.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of C$1.88, although Alliance Global Partners recently lowered its target from C$1.80 to C$1.60.

Canopy Growth Corp (TSE:WEED - Get Free Report) Director David Angelo Lazzarato sold 22,380 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of C$1.29, for a total value of C$28,870.20. Following the completion of the transaction, the director directly owned 108,237 shares in the company, valued at approximately C$139,625.73. This represents a 17.13% decrease in their position.

Canopy Growth Stock Performance

Shares of Canopy Growth stock traded down C$0.05 during trading hours on Wednesday, reaching C$1.27. 1,422,628 shares of the stock traded hands, compared to its average volume of 1,569,084. Canopy Growth Corp has a one year low of C$1.18 and a one year high of C$3.28. The firm has a market capitalization of C$537.26 million, a price-to-earnings ratio of -1.90, a P/E/G ratio of -0.01 and a beta of 1.63. The company has a quick ratio of 2.32, a current ratio of 3.04 and a debt-to-equity ratio of 40.27. The company has a 50 day moving average price of C$1.34 and a 200 day moving average price of C$1.40.

Canopy Growth (TSE:WEED - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$81.17 million during the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. On average, equities research analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners dropped their price target on shares of Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$1.88.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.

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