Christelle Gedeon Sells 13,344 Shares of Canopy Growth (NASDAQ:CGC) Stock

Key Points

• Insider sale: Christelle Gedeon sold 13,344 Canopy Growth shares at an average price of $1.47, receiving $19,615.68. She retains 692,162 shares, a 1.89% reduction in her stake.
• Stock performance: CGC recently traded at $1.07, with a market capitalization of approximately $480.75 million and a 52-week range of $0.84 to $2.38.
• Mixed outlook: Canopy Growth beat quarterly earnings expectations and reported $142.62 million in revenue, but remained unprofitable. Analysts’ average rating is “Hold,” while institutional investors own only 3.33% of the company.

Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) insider Christelle Gedeon sold 13,344 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1.47, for a total transaction of $19,615.68. Following the transaction, the insider owned 692,162 shares of the company's stock, valued at $1,017,478.14. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Christelle Gedeon also recently made the following trade(s):

• On Wednesday, June 17th, Christelle Gedeon sold 58,994 shares of Canopy Growth stock. The shares were sold at an average price of $0.97, for a total transaction of $57,224.18.

Canopy Growth Price Performance

Shares of CGC stock traded up $0.02 on Tuesday, reaching $1.07. 3,133,336 shares of the company were exchanged, compared to its average volume of 8,714,521. The company has a market cap of $480.75 million, a price-to-earnings ratio of -2.38 and a beta of 0.81. The business has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.39 and a current ratio of 3.04. Canopy Growth Corporation has a 1 year low of $0.84 and a 1 year high of $2.38.

Canopy Growth (NASDAQ:CGC - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. Canopy Growth had a negative net margin of 65.33% and a negative return on equity of 21.91%. The firm had revenue of $142.62 million for the quarter, compared to analyst estimates of $58.21 million. Equities research analysts forecast that Canopy Growth Corporation will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CGC has been the subject of several recent research reports. Weiss Ratings downgraded Canopy Growth from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Canopy Growth from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CGC. Boothbay Fund Management LLC purchased a new stake in shares of Canopy Growth in the second quarter valued at about $30,000. Bank of Montreal Can boosted its holdings in Canopy Growth by 122.7% in the 4th quarter. Bank of Montreal Can now owns 25,174 shares of the company's stock valued at $29,000 after purchasing an additional 135,970 shares during the last quarter. PCG Wealth Advisors LLC purchased a new stake in shares of Canopy Growth in the 4th quarter valued at approximately $32,000. Sender Co & Partners Inc. purchased a new stake in shares of Canopy Growth in the 3rd quarter valued at approximately $63,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Canopy Growth in the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 3.33% of the company's stock.

About Canopy Growth

Canopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.

The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.

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