Atb Cap Markets Downgrades Canopy Growth (NASDAQ:CGC) to Strong Sell

Atb Cap Markets cut shares of Canopy Growth (NASDAQ:CGC - Free Report) from a hold rating to a strong sell rating in a report released on Monday,Zacks.com reports.

Canopy Growth Trading Down 7.2 %

NASDAQ:CGC traded down $0.22 on Monday, reaching $2.83. The company's stock had a trading volume of 4,994,473 shares, compared to its average volume of 7,454,620. The firm has a market cap of $308.31 million, a PE ratio of -0.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.39. The business's 50-day moving average price is $4.13 and its two-hundred day moving average price is $5.46. Canopy Growth has a 1-year low of $2.76 and a 1-year high of $14.92.

Institutional Investors Weigh In On Canopy Growth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new position in shares of Canopy Growth in the third quarter valued at $1,882,000. Headlands Technologies LLC lifted its stake in Canopy Growth by 36,747.5% in the second quarter. Headlands Technologies LLC now owns 117,912 shares of the company's stock valued at $761,000 after acquiring an additional 117,592 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Canopy Growth by 168.6% in the 2nd quarter. Squarepoint Ops LLC now owns 91,227 shares of the company's stock valued at $588,000 after acquiring an additional 57,262 shares during the period. Centiva Capital LP acquired a new position in shares of Canopy Growth during the 3rd quarter worth about $257,000. Finally, AdvisorShares Investments LLC raised its holdings in shares of Canopy Growth by 86.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 68,922 shares of the company's stock valued at $440,000 after purchasing an additional 32,000 shares during the period. 3.33% of the stock is owned by institutional investors.

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Canopy Growth Company Profile

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.