Canopy Growth (TSE:WEED) Director Sells C$28,870.20 in Stock

Canopy Growth Corp (TSE:WEED) Director David Angelo Lazzarato sold 22,380 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of C$1.29, for a total transaction of C$28,870.20. Following the sale, the director owned 108,237 shares in the company, valued at approximately C$139,625.73. The trade was a 17.13% decrease in their position.

Canopy Growth Price Performance

TSE:WEED traded down C$0.05 during trading hours on Wednesday, hitting C$1.27. 1,422,628 shares of the stock traded hands, compared to its average volume of 1,569,084. The company has a quick ratio of 2.32, a current ratio of 3.04 and a debt-to-equity ratio of 40.27. Canopy Growth Corp has a 1 year low of C$1.18 and a 1 year high of C$3.28. The company has a market cap of C$537.26 million, a price-to-earnings ratio of -1.90, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63. The stock has a 50 day moving average price of C$1.34 and a 200 day moving average price of C$1.40.

Canopy Growth (TSE:WEED) last posted its quarterly earnings results on Friday, August 7th. The company reported C($0.03) earnings per share for the quarter. The firm had revenue of C$81.17 million during the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. Sell-side analysts forecast that Canopy Growth Corp will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut their price target on Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$1.88.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.