Canopy Growth Co. (NASDAQ:CGC - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $10.18, but opened at $9.95. Canopy Growth shares last traded at $10.27, with a volume of 4,628,610 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on Canopy Growth from $5.00 to $3.00 and set an "underperform" rating for the company in a report on Monday, February 12th. Sanford C. Bernstein boosted their target price on Canopy Growth to $5.00 and gave the stock a "market perform" rating in a report on Wednesday, January 31st.
Get Our Latest Analysis on CGC
Canopy Growth Trading Down 0.5 %
The company has a market capitalization of $922.94 million, a price-to-earnings ratio of -0.68 and a beta of 1.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.79 and a quick ratio of 1.40. The business has a fifty day moving average price of $4.78 and a 200 day moving average price of $5.44.
Canopy Growth (NASDAQ:CGC - Get Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($1.34). The firm had revenue of $57.67 million for the quarter, compared to the consensus estimate of $53.25 million. Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%. On average, equities analysts expect that Canopy Growth Co. will post -5.57 EPS for the current fiscal year.
Institutional Trading of Canopy Growth
A number of institutional investors and hedge funds have recently modified their holdings of CGC. Golden State Wealth Management LLC bought a new stake in Canopy Growth in the first quarter valued at $202,000. First Republic Investment Management Inc. bought a new stake in Canopy Growth in the second quarter valued at $31,000. Prudential Financial Inc. bought a new stake in Canopy Growth in the first quarter valued at $91,000. ExodusPoint Capital Management LP acquired a new position in Canopy Growth in the second quarter worth $50,000. Finally, Flow Traders U.S. LLC acquired a new position in Canopy Growth in the fourth quarter worth $43,000. 3.33% of the stock is currently owned by institutional investors.
About Canopy Growth
(
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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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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