Canopy Growth (TSE:WEED) Sets New 52-Week Low – Time to Sell?

Canopy Growth Corp (TSE:WEED)’s share price reached a new 52-week low during trading on Friday. The company traded as low as C$0.83 and last traded at C$0.87, with a volume of 1,411,513 shares traded. The stock had previously closed at C$0.95.

Canopy Growth Trading Down 3.2%

The company has a debt-to-equity ratio of 40.27, a quick ratio of 2.32 and a current ratio of 3.04. The firm’s fifty day simple moving average is C$1.18 and its 200-day simple moving average is C$1.38. The stock has a market cap of C$389.19 million, a P/E ratio of -1.37, a price-to-earnings-growth ratio of -0.01 and a beta of 2.07.

Canopy Growth (TSE:WEED) last released its earnings results on Friday, November 6th. The company reported C($0.10) earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts expect that Canopy Growth Corp will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, Director David Angelo Lazzarato sold 22,380 shares of the firm’s 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 sale, the director owned 108,237 shares of the company’s stock, valued at C$139,625.73. This trade represents a 17.13% decrease in their ownership of the stock. Over the last 90 days, insiders sold 43,492 shares of company stock valued at $56,105. 0.21% of the stock is owned by insiders.

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.