Canopy Growth (TSE:WEED) Posts Earnings Results

Canopy Growth (TSE:WEED) announced its quarterly earnings data on Friday. The company reported C($0.03) earnings per share (EPS) for the quarter, FiscalAI reports. Canopy Growth had a negative net margin of 84.76% and a negative return on equity of 35.48%. The company had revenue of C$81.17 million for the quarter.

Canopy Growth Price Performance

TSE WEED traded up C$0.04 during trading hours on Friday, reaching C$1.37. The company’s stock had a trading volume of 1,580,663 shares, compared to its average volume of 1,781,422. Canopy Growth has a 1 year low of C$1.18 and a 1 year high of C$3.28. The company has a quick ratio of 2.32, a current ratio of 3.34 and a debt-to-equity ratio of 39.95. The company has a market capitalization of C$578.35 million, a price-to-earnings ratio of -1.56, a PEG ratio of -0.01 and a beta of 1.38. The firm’s 50-day moving average price is C$1.36 and its 200-day moving average price is C$1.45.

Analyst Upgrades and Downgrades

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

Canopy Growth Company Profile

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.