Canopy Growth (CGC) Shares declining by 7.9%

Canopy Growth Corp (NYSE: CGC) declined by 7.9% during the midday trading day. The company traded at $ 42.08 and the last one traded at $ 42.45. Approximately 13,154,419 shares were traded during the trading session, an increase of 123% compared to the average daily volume of 5,894,386 shares. Shares ended earlier at $ 46.07.

CGC has been the subject of a number of recent analyst reports. Canaccord Genuity has increased Canopy Growth shares from the "hold" rating to the "buy" rating on a research note Thursday, August 16. Zacks Investment Research reduced Canopy Growth shares from a "hold" rating to a "sell" rating in a research note Tuesday, August 28. Cann has begun to cover Canopy growth in a research note Friday, October 12th. They have issued a "sell" rating and a price target of $ 30 per stock. They mentioned that this movement was a call for evaluation. The Benchmark began covering Canopy Growth in a research note Tuesday, September 25th. They have issued a "buy" rating on stock. Finally, Scotiabank began to cover Canopy growth quotas in a research note on Wednesday, October 17th. They awarded a "detained" rating and a $ 61.00 price target for stock. Two analysts rated the stock with a sale rating, one granted a participation rating, and three issued a buy-in rating to the company. Canopy Growth has an average "Hold" rating and an average price of $ 36.67.

The company has a market capitalization of $ 10.70 billion, a price-earnings ratio of -122.31 and a beta of 3.70. The company has a current ratio of 6.84, a fast 5.53 ratio and a debt / equity ratio of 0.50.

Canopy Growth (NYSE: CGC) last released quarterly earnings data Tuesday, August 14. The marijuana maker reported ($ 0.31) earnings per share for the quarter, missing the Zacks consensus estimate ($ 0.12) with ($ 0.19). The company had revenues of $ 20.09 million in the second quarter, compared with the analyst's estimates of $ 21.04 million. Canopy Growth had a negative return on equity of 12.47% and a negative net margin of 159.94%. As a group, research analysts expect Canopy Growth Corp to post -0.41 earnings per share for the current fiscal year.

Several large investors have recently added or decreased their holdings to the CGC. Exane Derivatives have gained a new Canopy increase during the third quarter worth $ 117,000. Kiley Juergens Wealth Management LLC increased its position in Canopy Growth by 867.2% in the third quarter. Kiley Juergens Wealth Management LLC currently holds 2,418 stock shares of the marijuana maker, valued at $ 117,000, after buying 2,168 shares in that period. Consultancy Network Network LLC gained a new stake in Canopy Growth during the third quarter, worth $ 138,000. Parallel Advisors LLC has acquired a new $ 300,000 Canopy Treasury stock during the third quarter. Eventually, Truvestments Capital LLC acquired a new $ 300,000 Canopy Treasury stock during the third quarter. Hedge funds and other institutional investors hold 7.44% of the company's shares.

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Canopy Growth Company Profile (NYSE: CGC)

Canopy Growth Corporation, together with its subsidiaries, is engaged in the growth, possession and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, soft capsules and hemps. The company offers its products under Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow and Foria brand names.

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