Atb Cap Markets cut shares of Canopy Growth (NASDAQ:CGC – Free Report) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.
Canopy Growth Trading Down 7.2 %
Shares of CGC stock opened at $2.83 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.39. Canopy Growth has a 52-week low of $2.76 and a 52-week high of $14.92. The stock has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $5.44. The firm has a market capitalization of $308.31 million, a PE ratio of -0.57 and a beta of 0.83.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PFG Investments LLC bought a new stake in Canopy Growth in the third quarter worth $54,000. Sassicaia Capital Advisers LLC bought a new position in Canopy Growth in the third quarter worth approximately $54,000. Financial Advocates Investment Management bought a new position in shares of Canopy Growth during the 3rd quarter worth $57,000. CIBC Asset Management Inc purchased a new position in Canopy Growth during the 2nd quarter valued at about $91,000. Finally, Vontobel Holding Ltd. bought a new position in Canopy Growth in the third quarter worth approximately $92,000. Institutional investors own 3.33% of the company’s stock.
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 the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.
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