Theresa Yanofsky Sells 15,054 Shares of Canopy Growth (NASDAQ:CGC) Stock

Canopy Growth Corporation (NASDAQ:CGC) Director Theresa Yanofsky sold 15,054 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $0.92, for a total transaction of $13,849.68. Following the transaction, the director owned 146,415 shares of the company’s stock, valued at $134,701.80. This trade represents a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Theresa Yanofsky also recently made the following trade(s):

• On Tuesday, March 31st, Theresa Yanofsky sold 10,373 shares of Canopy Growth stock. The shares were sold at an average price of $0.93, for a total value of $9,646.89.

Canopy Growth Price Performance

Shares of NASDAQ CGC opened at $0.95 on Wednesday. The company has a 50 day simple moving average of $1.06 and a two-hundred day simple moving average of $1.12. Canopy Growth Corporation has a fifty-two week low of $0.84 and a fifty-two week high of $2.38. The company has a market capitalization of $426.00 million, a price-to-earnings ratio of -1.61 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.64 and a current ratio of 3.34.

Canopy Growth (NASDAQ:CGC) last issued its quarterly earnings results on Monday, June 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). Canopy Growth had a negative return on equity of 26.95% and a negative net margin of 75.27%.The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $53.43 million. Analysts expect that Canopy Growth Corporation will post -0.11 EPS for the current fiscal year.

Canopy Growth News Roundup

Here are the key news stories impacting Canopy Growth this week:

• Positive Sentiment: Industry headlines around U.S. cannabis reform and a possible easing of the 280E tax burden could eventually improve valuation sentiment for Canopy Growth if regulatory progress continues. Cannabis’s 280E Tax Trap May Finally Break. We’ve Heard That Before.
• Neutral Sentiment: Separate commentary pieces highlighted the same cannabis-reform theme, but they mainly reinforced existing speculation rather than delivering new company-specific catalysts. What Does Cannabis Reform Mean for Canopy Growth (NASDAQ:CGC)?
• Neutral Sentiment: Market coverage noted that Canopy Growth is trading near the lower end of its range, with recent weakness reflecting a stock already under pressure after missing earnings and revenue estimates in its latest quarterly report.
• Negative Sentiment: Insider-selling news may be weighing on sentiment: directors Theresa Yanofsky, M Shan Atkins, and Joseph Bayern all sold shares recently, which can signal reduced confidence from inside the company. Canopy Growth (NASDAQ:CGC) Director Sells $13,849.68 in Stock
• Negative Sentiment: The company’s recent earnings miss and weak profitability remain a major overhang, with revenue and EPS both below expectations and analysts still forecasting a loss for the year.

Institutional Investors Weigh In On Canopy Growth

Several large investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its stake in Canopy Growth by 122.7% during the 4th quarter. Bank of Montreal Can now owns 25,174 shares of the company’s stock valued at $29,000 after acquiring an additional 135,970 shares during the period. Octavia Wealth Advisors LLC purchased a new stake in shares of Canopy Growth during the 4th quarter valued at about $30,000. Boothbay Fund Management LLC bought a new stake in shares of Canopy Growth in the second quarter worth approximately $30,000. PCG Wealth Advisors LLC bought a new stake in shares of Canopy Growth in the fourth quarter worth approximately $32,000. Finally, Insigneo Advisory Services LLC grew its stake in shares of Canopy Growth by 168.7% in the third quarter. Insigneo Advisory Services LLC now owns 43,001 shares of the company’s stock worth $63,000 after acquiring an additional 27,000 shares during the period. 3.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Canopy Growth from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Canaccord Genuity Group started coverage on shares of Canopy Growth in a research note on Friday, March 27th. They set a “buy” rating for the company. ATB Cormark Capital Markets upgraded shares of Canopy Growth from a “strong sell” rating to a “moderate buy” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings cut shares of Canopy Growth from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

About Canopy Growth

Canopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.

The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.