Insider Selling: Canopy Growth (NASDAQ:CGC) Director Sells 10,451 Shares of Stock

Key Points

• Willy Kruh, a director at Canopy Growth, sold 10,451 shares at an average price of $1.58, reducing his ownership by 14.24%.
• The company's stock is currently trading at $1.46, down from a 1-year high of $5.80, with a market capitalization of $350.18 million.
• Canopy Growth reported a negative EPS of ($0.14) and revenues of $52.98 million, falling short of analysts' expectations of $64.98 million.

Canopy Growth Corporation (NASDAQ:CGC - Get Free Report) Director Willy Kruh sold 10,451 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $1.58, for a total value of $16,512.58. Following the sale, the director directly owned 62,939 shares in the company, valued at $99,443.62. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Canopy Growth Stock Performance

Shares of Canopy Growth stock traded down $0.11 during trading on Tuesday, hitting $1.46. 37,295,959 shares of the company's stock traded hands, compared to its average volume of 12,352,060. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.07 and a quick ratio of 2.12. Canopy Growth Corporation has a 1 year low of $0.77 and a 1 year high of $5.80. The stock has a market capitalization of $350.18 million, a P/E ratio of -0.48 and a beta of 0.76. The business has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $1.30.

Canopy Growth (NASDAQ:CGC - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Canopy Growth had a negative return on equity of 89.93% and a negative net margin of 155.76%.The company had revenue of $52.98 million for the quarter, compared to analysts' expectations of $64.98 million. As a group, analysts forecast that Canopy Growth Corporation will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in shares of Canopy Growth by 31.5% in the second quarter. Tidal Investments LLC now owns 5,033,793 shares of the company's stock worth $6,141,000 after buying an additional 1,204,530 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Canopy Growth by 10,308.3% in the first quarter. Jones Financial Companies Lllp now owns 969,533 shares of the company's stock worth $882,000 after buying an additional 960,218 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Canopy Growth by 47.6% in the second quarter. SBI Securities Co. Ltd. now owns 532,541 shares of the company's stock worth $650,000 after buying an additional 171,803 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Canopy Growth by 64.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,278 shares of the company's stock worth $301,000 after buying an additional 129,620 shares during the period. Finally, Marathon Trading Investment Management LLC bought a new position in shares of Canopy Growth in the first quarter worth about $276,000. Institutional investors own 3.33% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research raised Canopy Growth to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

About Canopy Growth

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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