The Canopy Growth Corp. (NYSE: CGC) share fell 7.9% during the middle of today's trading on Thursday. The company is trading as low as $ 42.08 and traded last to $ 42.45. Approximately 13 154 419 shares traded under trading, an increase of 123% from the average daily volume of 5,894,386 shares. The stock had previously been closed at $ 46.07.
CGC has been the subject of a number of recent analyst reports. Canaccord Genuity upgraded shares in Canopy Growth from a "team" rating to a "buy" rating in a research note on Thursday, August 16th. Zack's Investment Research reduced its share of Canopy Growth from a "team" rating to a "sell" rating in a research note Tuesday 28 August. Cann began to cover shares of Canopy Growth in a research note Friday 12 October. They issued a "sell" rating and a price target of $ 30.00 on the stock. They noted that the move was a valuation call. Benchmark began to cover Canopy Growth shares in a research note Tuesday 25 September. They gave out a "buy" rating on the warehouse. Finally, Scotiabank began to cover shares of Canopy Growth in a research note Wednesday, October 17th. They released a "team" rating and a $ 61.00 prize on the share. Two analysts have rated the share with a sales rating, one has awarded a rating and three have issued a purchase price to the company. Canopy Growth has an average rating of "Hold" and an average price target of $ 36.67.
The company has a market value of $ 10.70 billion, a price-to-earnings ratio of -122.31 and a beta of 3.70. The company has a current ratio of 6.84, a fast ratio of 5.53 and a debt ratio of 0.50.
Canopy Growth (NYSE: CGC) released last quarterly results Tuesday, August 14th. The marijuana producer reported ($ 0.31) earnings per share for the quarter, lacking Zack's consensus estimate of ($ 0.12) by ($ 0.19). The business had a turnover of MUSD 20.09 during the quarter, compared with analyst estimates of $ 21.04 MUSD. 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 come after -0.41 earnings per share for the current fiscal year.
Several major investors have recently added or reduced their efforts in CGC. Exane Derivatives acquired a new share in Canopy Growth in the third quarter, valued at $ 117,000. Kiley Juergens Wealth Management LLC grew its position in Canopy Growth by 867.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2 418 shares in the marijuana producer's share valued at 117 000 USD after having purchased an additional 2,168 shares during the period. Advisory Services Network LLC acquired a new share in Canopy Growth in the third quarter valued at $ 138,000. Parallel Advisors LLC acquired a new share in Canopy Growth in the third quarter, valued at $ 140,000. Finally, Truvestments Capital LLC acquired a new share in Canopy Growth in the third quarter valued at $ 150,000. Hedge funds and other institutional investors own 7.44% of the company's share.
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Canopy Growth Company Profile (NYSE: CGC)
Canopy Growth Corporation, together with its subsidiaries, is engaged in the cultivation, holding and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules and hemp. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brands.
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