Canopy Growth Posts Fiscal Fourth Quarter Loss Of $0.98 Per Share

Canopy Growth Posts Fiscal Fourth Quarter Loss Of $0.98 Per Share

Canopy Growth Posts Fiscal Fourth Quarter Loss Of $0.98 Per Share

The Smiths Falls, Ont. -based company reported a net loss of $323.4 million, or 98 cents a share, compared to a loss of $54.4 million in the same quarter previous year. The stock has week by week unpredictability of 2.72% and monthly volatility of 3.7% with ATR of 1.59 and beta of 0.

Canopy Growth CEO Bruce Linton says in a statement that the transaction's completion "is meant to position us to efficiently and effectively enter the USA cannabis market once federally permissible". Desjardins reissued a "hold" rating on shares of Canopy Growth in a research note on Monday.

Technical Analysis of Canopy Growth Corporation: Looking into the profitability ratios of CGC stock, the shareholder will find its ROE, ROA and ROI standing at 0%, 0% and 0%, respectively.

On Thursday, Canopy Growth Corporation, (NYSE:CGC), belongs to Healthcare sector and Drug Manufacturers - Other industry. Bank of America maintained Canopy Growth Corporation (NYSE:CGC) rating on Wednesday, June 19. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. $73.50's average target is 68.15% above currents $43.71 stock price.

Investors are searching for easily tradable or highly liquid stocks, here we screened Canopy Growth Corporation stock with recent volume of 12431501 shares. About 5.72 million shares traded or 16.33% up from the average. Canopy Growth has a 52 week low of $24.21 and a 52 week high of $59.25. When a stock price is getting close to either the 52-week high or 52-week low, investors may track activity to watch for a move past the established mark. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12.

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In April the company announced plans to purchase United States pot grower and retailer Acreage, conditional on pot becoming "federally permissible" in the USA, in a US$3.4 billion deal that it said would make it the "undisputed leader" in the U.S. cannabis market.

Although marijuana stocks seem to be performing unconvincingly now, CGC stock has outperformed very well, and its shares are actually 53% up since the beginning of the year.

Canopy also gave an update on its USA plans, where it's building up hemp operations in seven states in order to sell products containing the popular compound CBD. Finally, Global Retirement Partners LLC increased its stake in shares of Canopy Growth by 524.0% in the 1st quarter. TD Asset Management Inc. now owns 784,287 shares of the marijuana producer's stock valued at $21,023,000 after buying an additional 35,053 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of Canopy Growth by 221.5% during the first quarter. In the last three months, CGC stock has dropped by 8%.

Canopy Growth Corp through its subsidiaries is the licensed producer of medical marijuana in Canada.

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