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

Canopy Growth Corp (TSE:WEED)’s share price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$1.17 and last traded at C$1.19, with a volume of 746527 shares traded. The stock had previously closed at C$1.26.

Analyst Ratings Changes

Separately, Alliance Global Partners cut their price objective on 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$1.88.

Canopy Growth Trading Down 6.3%

The firm has a market capitalization of C$499.18 million, a price-to-earnings ratio of -1.76, a price-to-earnings-growth ratio of -0.01 and a beta of 2.41. The business’s fifty day moving average is C$1.34 and its 200 day moving average is C$1.40. 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 released its earnings results on Friday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%.The firm had revenue of C$81.17 million for the quarter. Equities analysts predict that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other Canopy Growth news, Director David Angelo Lazzarato sold 22,380 shares of the company’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 completion of the transaction, the director owned 108,237 shares of the company’s stock, valued at C$139,625.73. This represents a 17.13% decrease in their position. In the last quarter, insiders sold 43,492 shares of company stock valued at $56,105. Insiders own 0.21% of the company’s stock.

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.