Canopy Growth Co. (NASDAQ:CGC - Get Free Report) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 9,190,000 shares, a drop of 8.9% from the November 15th total of 10,090,000 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average daily volume of 5,370,000 shares, the short-interest ratio is currently 1.7 days.
Canopy Growth Price Performance
Shares of CGC traded down $0.07 on Monday, hitting $3.04. The company's stock had a trading volume of 3,918,517 shares, compared to its average volume of 7,479,522. The company has a 50 day moving average price of $4.15 and a 200 day moving average price of $5.50. Canopy Growth has a fifty-two week low of $2.76 and a fifty-two week high of $14.92. The company has a market capitalization of $331.18 million, a PE ratio of -0.62 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.07.
Hedge Funds Weigh In On Canopy Growth
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position 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 worth $214,000 after purchasing an additional 3,864 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Canopy Growth by 19.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 55,566 shares of the company's stock worth $358,000 after buying an additional 9,226 shares in the last quarter. TD Asset Management Inc boosted its position in Canopy Growth by 16.1% in the 2nd quarter. TD Asset Management Inc now owns 74,758 shares of the company's stock valued at $483,000 after buying an additional 10,376 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new stake in shares of Canopy Growth in the 3rd quarter valued at $54,000. Finally, PFG Investments LLC bought a new stake in shares of Canopy Growth during the third quarter worth $54,000. Institutional investors and hedge funds own 3.33% of the company's stock.
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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