Canopy Growth Co. (NASDAQ:CGC - Get Free Report)'s stock price traded up 1.1% during mid-day trading on Monday . The stock traded as high as $0.96 and last traded at $0.93. 2,570,962 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 6,907,051 shares. The stock had previously closed at $0.92.
Wall Street Analysts Forecast Growth
Separately, Atb Cap Markets lowered Canopy Growth from a "hold" rating to a "strong sell" rating in a report on Monday, December 16th.
Read Our Latest Stock Analysis on CGC
Canopy Growth Stock Performance
The firm's 50 day moving average price is $1.33 and its two-hundred day moving average price is $2.76. The firm has a market cap of $149.10 million, a PE ratio of -0.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CGC. Concurrent Investment Advisors LLC lifted its stake in shares of Canopy Growth by 26.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company's stock valued at $68,000 after purchasing an additional 5,172 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Canopy Growth by 222.9% in the fourth quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company's stock valued at $26,000 after buying an additional 6,430 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in Canopy Growth during the fourth quarter worth about $38,000. OLD Mission Capital LLC boosted its stake in Canopy Growth by 41.6% during the fourth quarter. OLD Mission Capital LLC now owns 51,066 shares of the company's stock worth $140,000 after buying an additional 15,000 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Canopy Growth during the fourth quarter valued at about $41,000. 3.33% of the stock is currently owned by hedge funds and other institutional investors.
About Canopy Growth
(
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 the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.
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