Canopy Growth (TSE:WEED) Hits New 1-Year Low – Here’s What Happened

Canopy Growth Corp (TSE:WEED)’s stock price hit a new 52-week low during trading on Monday. The company traded as low as C$0.93 and last traded at C$0.94, with a volume of 230,265 shares changing hands. The stock had previously closed at C$0.95.

Canopy Growth Price Performance

The company’s 50 day moving average is C$1.26 and its 200 day moving average is C$1.41. The stock has a market capitalization of C$397.66 million, a price-to-earnings ratio of -1.40, a price-to-earnings-growth ratio of -0.01 and a beta of 2.41. The company has a current ratio of 3.04, a quick ratio of 2.32 and a debt-to-equity ratio of 40.27.

Canopy Growth (TSE:WEED) last announced its earnings results on Friday, August 7th. The company reported C($0.03) earnings per share for the quarter. The business had revenue of C$81.17 million for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. Research analysts anticipate that Canopy Growth Corp will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

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 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 directly owned 108,237 shares in the company, valued at C$139,625.73. The trade was a 17.13% decrease in their position. In the last ninety days, insiders have sold 43,492 shares of company stock worth $56,105. Company 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.