Canopy Growth Co. (NASDAQ:CGC - Get Free Report) saw an uptick in trading volume on Friday . 7,000,858 shares were traded during mid-day trading, a decline of 28% from the previous session's volume of 9,755,726 shares.The stock last traded at $7.72 and had previously closed at $7.83.
Analyst Ratings Changes
A number of brokerages recently issued reports on CGC. Sanford C. Bernstein lifted their price target on shares of Canopy Growth to $5.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 31st. Piper Sandler reduced their price objective on shares of Canopy Growth from $5.00 to $3.00 and set an "underperform" rating for the company in a research report on Monday, February 12th.
Read Our Latest Stock Report on CGC
Canopy Growth Stock Up 1.3 %
The firm has a market cap of $722.50 million, a PE ratio of -0.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.40 and a current ratio of 1.79. The firm's 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.46.
Canopy Growth (NASDAQ:CGC - Get Free Report) last announced its earnings results on Friday, February 9th. The company reported ($1.79) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($1.34). The business had revenue of $57.67 million during the quarter, compared to analyst estimates of $53.25 million. Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%. As a group, equities research analysts expect that Canopy Growth Co. will post -6.14 EPS for the current fiscal year.
Institutional Investors Weigh In On Canopy Growth
A number of large investors have recently added to or reduced their stakes in CGC. Golden State Wealth Management LLC purchased a new position in shares of Canopy Growth during the 1st quarter worth about $202,000. First Republic Investment Management Inc. purchased a new position in shares of Canopy Growth during the 2nd quarter worth about $31,000. Prudential Financial Inc. purchased a new position in shares of Canopy Growth during the 1st quarter worth about $91,000. ExodusPoint Capital Management LP purchased a new position in shares of Canopy Growth during the 2nd quarter worth about $50,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of Canopy Growth during the 4th quarter worth about $43,000. 3.33% of the stock is owned by institutional investors and hedge funds.
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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