Insider Selling: Canopy Growth Co. (NASDAQ:CGC) Director Sells 1,983 Shares of Stock

Canopy Growth Co. (NASDAQ:CGC) Director Theresa Yanofsky sold 1,983 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $6.41, for a total value of $12,711.03. Following the transaction, the director now directly owns 26,186 shares of the company’s stock, valued at $167,852.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Canopy Growth Stock Down 2.0 %

NASDAQ:CGC opened at $6.26 on Wednesday. Canopy Growth Co. has a 1 year low of $2.76 and a 1 year high of $19.20. The business has a 50 day simple moving average of $8.54 and a 200-day simple moving average of $6.36. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 0.99.

Canopy Growth (NASDAQ:CGC) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. Canopy Growth had a negative return on equity of 62.67% and a negative net margin of 185.77%. The firm had revenue of $53.99 million for the quarter, compared to the consensus estimate of $52.71 million. As a group, research analysts anticipate that Canopy Growth Co. will post -1.08 EPS for the current year.

Institutional Trading of Canopy Growth

Several institutional investors and hedge funds have recently made changes to their positions in CGC. PCG Wealth Advisors LLC lifted its holdings in shares of Canopy Growth by 73.6% in the 1st quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock worth $271,000 after buying an additional 13,300 shares during the period. Genesee Capital Advisors LLC raised its holdings in shares of Canopy Growth by 29.9% in the first quarter. Genesee Capital Advisors LLC now owns 13,047 shares of the company’s stock valued at $113,000 after acquiring an additional 3,000 shares in the last quarter. Gainplan LLC purchased a new stake in Canopy Growth in the first quarter worth about $302,000. SG Americas Securities LLC bought a new position in Canopy Growth during the 1st quarter worth about $740,000. Finally, Concurrent Investment Advisors LLC purchased a new position in Canopy Growth during the 1st quarter valued at about $289,000. 3.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets raised Canopy Growth to a “hold” rating in a research note on Monday, June 17th.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.