Canopy Growth (TSE:WEED) Hits New 52-Week Low – Time to Sell?

Canopy Growth Corp (TSE:WEED) hit a new 52-week low on Wednesday. The stock traded as low as C$1.03 and last traded at C$1.04, with a volume of 555,289 shares. The stock had previously closed at C$1.08.

Canopy Growth Stock Up 1.0%

The company has a debt-to-equity ratio of 40.27, a quick ratio of 2.32 and a current ratio of 3.04. The company has a market cap of C$439.96 million, a price-to-earnings ratio of -1.55, a price-to-earnings-growth ratio of -0.01 and a beta of 2.41. The business has a 50-day simple moving average of C$1.32 and a 200-day simple moving average of C$1.39.

Canopy Growth (TSE:WEED) last announced its quarterly earnings data on Friday, August 7th. The company reported C($0.03) EPS for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. The company had revenue of C$81.17 million for the quarter. On average, equities analysts anticipate that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Angelo Lazzarato sold 22,380 shares of Canopy Growth stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of C$1.29, for a total value of C$28,870.20. Following the completion of the transaction, the director owned 108,237 shares in the company, valued at C$139,625.73. The trade was a 17.13% decrease in their ownership of the stock. Insiders have sold a total of 43,492 shares of company stock valued at $56,105 over the last 90 days. 0.21% of the stock is owned by company 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.