Canopy Growth Co. (NASDAQ:CGC – Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 9,230,000 shares, a growth of 16.0% from the September 30th total of 7,960,000 shares. Currently, 11.0% of the company’s shares are short sold. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is currently 2.5 days.
Canopy Growth Price Performance
Shares of CGC stock traded down $0.38 during mid-day trading on Wednesday, hitting $4.87. 5,730,668 shares of the stock were exchanged, compared to its average volume of 7,713,226. The firm has a fifty day moving average of $4.81 and a 200 day moving average of $6.77. The company has a quick ratio of 1.64, a current ratio of 2.15 and a debt-to-equity ratio of 1.05. Canopy Growth has a 52-week low of $2.76 and a 52-week high of $14.92. The company has a market cap of $457.12 million, a PE ratio of -0.74 and a beta of 0.86.
Canopy Growth (NASDAQ:CGC – Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). The company had revenue of $48.39 million during the quarter, compared to analysts’ expectations of $51.82 million. Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 73.30%. Research analysts anticipate that Canopy Growth will post -1.42 earnings per share for the current year.
Institutional Trading of Canopy Growth
Wall Street Analysts Forecast Growth
Separately, Piper Sandler reduced their price target on Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 9th.
View Our Latest Stock Analysis on CGC
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.
Featured Articles
- Five stocks we like better than Canopy Growth
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- How to invest in marijuana stocks in 7 steps
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for Canopy Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canopy Growth and related companies with MarketBeat.com's FREE daily email newsletter.