Shares of Canopy Growth Co. (NASDAQ:CGC - Get Free Report) traded down 5.6% during trading on Thursday . The company traded as low as $9.85 and last traded at $10.28. 33,077,195 shares traded hands during mid-day trading, an increase of 256% from the average session volume of 9,293,781 shares. The stock had previously closed at $10.89.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Sanford C. Bernstein increased their target price on shares of Canopy Growth to $5.00 and gave the stock a "market perform" rating in a report on Wednesday, January 31st. Piper Sandler dropped their target price on shares of Canopy Growth from $5.00 to $3.00 and set an "underperform" rating for the company in a report on Monday, February 12th.
Get Our Latest Report on CGC
Canopy Growth Price Performance
The company has a 50 day moving average price of $4.67 and a 200-day moving average price of $5.51. The company has a quick ratio of 1.40, a current ratio of 1.79 and a debt-to-equity ratio of 0.96. The company has a market cap of $891.06 million, a price-to-earnings ratio of -0.65 and a beta of 1.39.
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 the consensus estimate of ($0.45) by ($1.34). Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%. The firm had revenue of $57.67 million during the quarter, compared to analyst estimates of $53.25 million. As a group, equities research analysts predict 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 added to or reduced their stakes in CGC. Founders Financial Securities LLC boosted its holdings in shares of Canopy Growth by 112.3% during the 3rd quarter. Founders Financial Securities LLC now owns 33,087 shares of the company's stock worth $26,000 after buying an additional 17,500 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Canopy Growth by 144.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 67,498 shares of the company's stock worth $26,000 after buying an additional 39,861 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Canopy Growth during the second quarter worth about $31,000. Vanguard Personalized Indexing Management LLC boosted its stake in Canopy Growth by 197.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company's stock valued at $34,000 after acquiring an additional 28,666 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Canopy Growth in the first quarter valued at about $37,000. Institutional investors and hedge funds own 3.33% of the company's stock.
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.
Further Reading
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