Canopy Growth (TSE:WEED) Hits New 1-Year Low – What’s Next?

Canopy Growth Corp (TSE:WEED) reached a new 52-week low during trading on Tuesday. The company traded as low as C$1.00 and last traded at C$1.02, with a volume of 171,832 shares traded. The stock had previously closed at C$1.02.

Canopy Growth Trading Down 6.9%

The firm has a market capitalization of C$397.66 million, a price-to-earnings ratio of -1.40, a price-to-earnings-growth ratio of -0.01 and a beta of 2.41. The firm’s 50 day moving average is C$1.29 and its 200 day moving average is C$1.38. 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 (TSE:WEED) last issued its earnings results on Friday, August 7th. The company reported C($0.03) earnings per share for the quarter. The business had revenue of C$81.17 million for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. Equities analysts forecast that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insider Activity

In other news, Director David Angelo Lazzarato sold 22,380 shares of the business’s stock in a transaction 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 directly owned 108,237 shares of the company’s stock, valued at C$139,625.73. The trade was a 17.13% decrease in their ownership of the stock. In the last 90 days, insiders sold 43,492 shares of company stock valued at $56,105. Insiders own 0.21% of the company’s stock.

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.