Canopy Growth Co. (NASDAQ:CGC - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors bought 48,090 call options on the company. This is an increase of approximately 211% compared to the average volume of 15,480 call options.
Analysts Set New Price Targets
Separately, Atb Cap Markets lowered Canopy Growth from a "hold" rating to a "strong sell" rating in a research report on Monday, December 16th.
Check Out Our Latest Report on CGC
Canopy Growth Trading Down 27.3 %
Shares of Canopy Growth stock traded down $0.76 on Friday, reaching $2.02. 22,890,203 shares of the company's stock were exchanged, compared to its average volume of 7,716,115. The firm's 50-day moving average is $2.70 and its two-hundred day moving average is $4.26. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.07. Canopy Growth has a 52 week low of $1.85 and a 52 week high of $14.92.
Institutional Investors Weigh In On Canopy Growth
A number of large investors have recently bought and sold shares of CGC. Geode Capital Management LLC bought a new position in shares of Canopy Growth during the 3rd quarter worth about $1,882,000. Stratos Wealth Advisors LLC bought a new position in Canopy Growth in the third quarter worth approximately $97,000. Financial Advocates Investment Management acquired a new stake in Canopy Growth in the third quarter valued at approximately $57,000. Mackenzie Financial Corp increased its holdings in shares of Canopy Growth by 13.2% during the second quarter. Mackenzie Financial Corp now owns 33,165 shares of the company's stock valued at $214,000 after acquiring an additional 3,864 shares in the last quarter. Finally, Lake Street Private Wealth LLC raised its position in shares of Canopy Growth by 47.6% during the third quarter. Lake Street Private Wealth LLC now owns 44,638 shares of the company's stock worth $215,000 after purchasing an additional 14,398 shares during the period. 3.33% of the stock is currently owned by institutional investors and hedge funds.
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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