Canopy Growth (TSE:WEED) Issues Quarterly Earnings Results

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

Canopy Growth Stock Performance

Shares of WEED opened at C$1.37 on Friday. The business’s fifty day moving average price is C$1.36 and its 200 day moving average price is C$1.45. Canopy Growth has a 12-month low of C$1.18 and a 12-month high of C$3.28. The stock has a market capitalization of C$578.35 million, a PE ratio of -1.56, a price-to-earnings-growth ratio of -0.01 and a beta of 1.38. The company has a debt-to-equity ratio of 39.95, a current ratio of 3.34 and a quick ratio of 2.32.

Wall Street Analysts Forecast Growth

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

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.