Commonwealth Equity Services LLC increased its holdings in Canopy Growth Co. (NASDAQ:CGC – Free Report) by 19.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 55,566 shares of the company’s stock after buying an additional 9,226 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Canopy Growth worth $358,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of Canopy Growth during the 1st quarter worth approximately $21,718,000. Murchinson Ltd. bought a new position in shares of Canopy Growth during the 1st quarter worth $13,149,000. SG Americas Securities LLC bought a new position in shares of Canopy Growth during the 1st quarter worth $740,000. Baader Bank Aktiengesellschaft lifted its stake in shares of Canopy Growth by 137.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 135,275 shares of the company’s stock worth $873,000 after purchasing an additional 78,275 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Canopy Growth in the first quarter valued at about $544,000. 3.33% of the stock is currently owned by institutional investors.
Canopy Growth Stock Down 1.5 %
Canopy Growth stock opened at $4.64 on Monday. The firm has a market cap of $395.10 million, a price-to-earnings ratio of -0.73 and a beta of 0.87. Canopy Growth Co. has a 52 week low of $2.76 and a 52 week high of $14.92. The business’s 50-day moving average price is $6.16 and its 200 day moving average price is $7.12. The company has a quick ratio of 1.64, a current ratio of 2.15 and a debt-to-equity ratio of 1.05.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Atb Cap Markets raised Canopy Growth to a “hold” rating in a report on Monday, June 17th. Piper Sandler dropped their target price on Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, July 9th.
Read Our Latest Research Report on Canopy Growth
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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