Canopy Growth (TSE:WEED) Sets New 12-Month Low – Here’s What Happened

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low during trading on Friday. The stock traded as low as C$0.83 and last traded at C$0.87, with a volume of 1,411,513 shares trading hands. The stock had previously closed at C$0.95.

Canopy Growth Stock Down 8.4%

The firm has a 50 day simple moving average of C$1.19 and a two-hundred day simple moving average of C$1.38. The stock has a market capitalization of C$368.04 million, a P/E ratio of -1.30, a PEG ratio of -0.01 and a beta of 2.07. 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 quarterly earnings results on Friday, November 6th. The company reported C($0.10) earnings per share (EPS) for the quarter. Canopy Growth had a negative net margin of 73.95% and a negative return on equity of 29.85%. The business had revenue of C$81.37 million during the quarter. On average, equities research analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Angelo Lazzarato sold 22,380 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of C$1.29, for a total value 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. This trade represents a 17.13% decrease in their ownership of the stock. Insiders sold 43,492 shares of company stock valued at $56,105 over the last quarter. Company 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.