Canopy Growth (NASDAQ:CGC) Price Target Cut to $3.00

Canopy Growth (NASDAQ:CGCGet Free Report) had its target price reduced by equities research analysts at Piper Sandler from $5.00 to $3.00 in a report issued on Monday, BayStreet.CA reports. The firm presently has an “underperform” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 21.26% from the company’s previous close.

Separately, Sanford C. Bernstein lifted their price target on shares of Canopy Growth to $5.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Canopy Growth presently has a consensus rating of “Hold” and an average price target of $11.65.

Read Our Latest Analysis on Canopy Growth

Canopy Growth Trading Down 5.2 %

Shares of CGC stock traded down $0.21 on Monday, hitting $3.81. 3,988,731 shares of the company’s stock traded hands, compared to its average volume of 2,899,229. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.07 and a current ratio of 2.52. Canopy Growth has a one year low of $3.46 and a one year high of $25.40. The company’s fifty day simple moving average is $5.03 and its 200 day simple moving average is $5.87. The stock has a market capitalization of $347.05 million, a price-to-earnings ratio of -0.25 and a beta of 1.27.

Canopy Growth (NASDAQ:CGCGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.60). The business had revenue of $51.88 million for the quarter, compared to analysts’ expectations of $67.17 million. Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 67.61%. Equities analysts forecast that Canopy Growth will post -3.56 EPS for the current year.

Institutional Trading of Canopy Growth

Large investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC purchased a new stake in Canopy Growth during the second quarter valued at $25,000. Founders Financial Securities LLC grew its holdings in Canopy Growth by 112.3% during the 3rd quarter. Founders Financial Securities LLC now owns 33,087 shares of the company’s stock worth $26,000 after acquiring an additional 17,500 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Canopy Growth by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 67,498 shares of the company’s stock valued at $26,000 after buying an additional 39,861 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Canopy Growth during the second quarter valued at about $31,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Canopy Growth by 197.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company’s stock valued at $34,000 after buying an additional 28,666 shares during the last quarter. 12.80% of the stock is currently owned by institutional investors.

Canopy Growth Company Profile

(Get Free Report)

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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.

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