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

Canopy Growth Corp (TSE:WEED)’s share price reached 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 stock has a market capitalization of C$368.04 million, a price-to-earnings ratio of -1.30, a price-to-earnings-growth 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. The stock has a 50 day moving average price of C$1.19 and a 200 day moving average price of C$1.38.

Canopy Growth (TSE:WEED) last released its quarterly earnings data 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 firm had revenue of C$81.37 million during the quarter. As a group, analysts forecast that Canopy Growth Corp will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, Director David Angelo Lazzarato sold 22,380 shares of Canopy Growth stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of C$1.29, for a total transaction of C$28,870.20. Following the sale, the director directly owned 108,237 shares in the company, valued at C$139,625.73. This trade represents a 17.13% decrease in their position. In the last 90 days, insiders have sold 43,492 shares of company stock worth $56,105. 0.21% of the stock is owned by company insiders.

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.