Headlands Technologies LLC lifted its holdings in Canopy Growth Co. (NASDAQ:CGC – Free Report) by 36,747.5% during the second quarter, Holdings Channel reports. The fund owned 117,912 shares of the company’s stock after buying an additional 117,592 shares during the quarter. Headlands Technologies LLC’s holdings in Canopy Growth were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in CGC. PCG Wealth Advisors LLC grew its position in Canopy Growth by 73.6% during the 1st quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock worth $271,000 after purchasing an additional 13,300 shares during the period. Gainplan LLC purchased a new position in Canopy Growth during the first quarter valued at approximately $302,000. SG Americas Securities LLC acquired a new position in Canopy Growth in the first quarter valued at approximately $740,000. Concurrent Investment Advisors LLC purchased a new stake in Canopy Growth in the 1st quarter worth approximately $289,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Canopy Growth during the 1st quarter worth approximately $475,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.
Canopy Growth Trading Down 1.9 %
Shares of CGC stock opened at $4.71 on Thursday. The stock has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $7.05. Canopy Growth Co. has a 1-year low of $2.76 and a 1-year high of $19.20. The company has a market cap of $401.06 million, a price-to-earnings ratio of -0.74 and a beta of 0.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.15 and a quick ratio of 1.64.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CGC. Atb Cap Markets upgraded shares of Canopy Growth to a “hold” rating in a research note on Monday, June 17th. Piper Sandler decreased their price objective on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th.
Get Our Latest Analysis on CGC
About Canopy Growth
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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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