TD Asset Management Inc Acquires 10,376 Shares of Canopy Growth Co. (NASDAQ:CGC)

TD Asset Management Inc grew its holdings in Canopy Growth Co. (NASDAQ:CGC) by 16.1% during the 2nd quarter, Holdings Channel reports. The firm owned 74,758 shares of the company’s stock after purchasing an additional 10,376 shares during the period. TD Asset Management Inc’s holdings in Canopy Growth were worth $483,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CGC. Tidal Investments LLC bought a new position in shares of Canopy Growth in the 1st quarter valued at about $21,718,000. Murchinson Ltd. bought a new position in shares of Canopy Growth in the 1st quarter valued at about $13,149,000. SG Americas Securities LLC bought a new position in shares of Canopy Growth in the 1st quarter valued at about $740,000. Baader Bank Aktiengesellschaft boosted its stake in shares of Canopy Growth by 137.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 135,275 shares of the company’s stock valued at $873,000 after purchasing an additional 78,275 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Canopy Growth in the 1st quarter valued at about $544,000. Institutional investors own 3.33% of the company’s stock.

Canopy Growth Stock Up 1.5 %

Canopy Growth stock opened at $4.79 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.15 and a quick ratio of 1.64. The firm has a market capitalization of $407.87 million, a price-to-earnings ratio of -0.75 and a beta of 0.87. The company’s 50 day simple moving average is $6.32 and its 200 day simple moving average is $7.09. Canopy Growth Co. has a fifty-two week low of $2.76 and a fifty-two week high of $15.68.

Canopy Growth (NASDAQ:CGC) last announced its earnings results on Friday, August 9th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.06). The company had revenue of $48.39 million for the quarter, compared to analyst estimates of $51.82 million. Canopy Growth had a negative return on equity of 73.30% and a negative net margin of 240.19%. As a group, sell-side analysts anticipate that Canopy Growth Co. will post -1.42 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CGC shares. Atb Cap Markets raised shares of Canopy Growth to a “hold” rating in a research note on Monday, June 17th. Piper Sandler reduced their price objective on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 9th.

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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.