Canopy Growth Co. (NASDAQ:CGC – Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors purchased 46,018 call options on the stock. This represents an increase of 171% compared to the typical volume of 17,008 call options.
Canopy Growth Stock Up 14.7 %
Shares of Canopy Growth stock opened at $4.98 on Wednesday. Canopy Growth has a 1 year low of $2.76 and a 1 year high of $14.92. The company has a 50-day moving average of $5.01 and a 200 day moving average of $6.93. The firm has a market cap of $379.47 million, a price-to-earnings ratio of -0.78 and a beta of 0.86. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.15 and a quick ratio of 1.64.
Canopy Growth (NASDAQ:CGC – Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.06). Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 73.30%. The firm had revenue of $48.39 million for the quarter, compared to analysts’ expectations of $51.82 million. As a group, sell-side analysts anticipate that Canopy Growth will post -1.42 earnings per share for the current fiscal year.
Institutional Trading of Canopy Growth
Wall Street Analyst Weigh In
Separately, Piper Sandler decreased their price target on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, July 9th.
Get Our Latest Stock Report on CGC
Canopy Growth Company Profile
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 the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.
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