Canopy Growth (TSE:WEED) Issues Quarterly Earnings Results

Canopy Growth (TSE:WEED) posted its quarterly earnings results on Friday. The company reported C($0.10) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$81.37 million during the quarter. Canopy Growth had a negative net margin of 73.95% and a negative return on equity of 29.85%.

Canopy Growth Price Performance

WEED stock traded down C$0.03 during mid-day trading on Friday, reaching C$0.92. 2,157,543 shares of the company traded hands, compared to its average volume of 1,468,449. The company has a fifty day moving average price of C$1.19 and a 200-day moving average price of C$1.38. Canopy Growth has a 52-week low of C$0.84 and a 52-week high of C$3.28. The company has a market capitalization of C$389.19 million, a P/E ratio of -1.37, a P/E/G ratio of -0.01 and a beta of 2.07. The company has a debt-to-equity ratio of 40.27, a current ratio of 3.04 and a quick ratio of 2.32.

Insider Activity

In other news, Director David Angelo Lazzarato sold 22,380 shares of the firm’s 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 value of C$28,870.20. Following the completion of the transaction, the director directly owned 108,237 shares in the company, valued at approximately C$139,625.73. This trade represents a 17.13% decrease in their ownership of the stock. Insiders have sold 43,492 shares of company stock valued at $56,105 over the last quarter. Corporate 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.