Canopy Growth (TSE:WEED) Reaches New 1-Year Low – Here’s Why

Canopy Growth Corp (TSE:WEED)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$0.80 and last traded at C$0.81, with a volume of 825,537 shares. The stock had previously closed at C$0.88.

Canopy Growth Price Performance

The company has a market capitalization of C$342.66 million, a PE ratio of -1.21, a price-to-earnings-growth 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. The company’s 50 day simple moving average is C$1.15 and its 200 day simple moving average is C$1.37.

Canopy Growth (TSE:WEED) last posted its earnings results on Friday, November 6th. The company reported C($0.10) EPS for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. The firm had revenue of C$81.37 million for the quarter. As a group, sell-side analysts predict that Canopy Growth Corp will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Angelo Lazzarato sold 22,380 shares of the company’s stock in a transaction 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 transaction, the director owned 108,237 shares of the company’s stock, valued at C$139,625.73. This 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 currently owned by 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.