Canopy Growth Co. (NASDAQ:CGC) Short Interest Update

Canopy Growth Co. (NASDAQ:CGC) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 14,840,000 shares, an increase of 55.7% from the January 31st total of 9,530,000 shares. Based on an average daily volume of 6,870,000 shares, the short-interest ratio is currently 2.2 days. Approximately 10.4% of the shares of the company are short sold.

Canopy Growth Price Performance

NASDAQ CGC opened at $1.40 on Friday. The company has a 50-day moving average price of $2.22 and a two-hundred day moving average price of $3.72. Canopy Growth has a 52 week low of $1.36 and a 52 week high of $14.92. The stock has a market cap of $216.80 million, a price-to-earnings ratio of -0.37 and a beta of 0.86. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74.

Hedge Funds Weigh In On Canopy Growth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC grew its position in Canopy Growth by 26.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company’s stock valued at $68,000 after buying an additional 5,172 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Canopy Growth by 222.9% in the fourth quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company’s stock valued at $26,000 after acquiring an additional 6,430 shares in the last quarter. Sassicaia Capital Advisers LLC acquired a new position in shares of Canopy Growth during the third quarter valued at approximately $54,000. Financial Advocates Investment Management bought a new stake in Canopy Growth during the third quarter worth approximately $57,000. Finally, Apollon Wealth Management LLC acquired a new stake in Canopy Growth in the fourth quarter worth approximately $38,000. 3.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets downgraded shares of Canopy Growth from a “hold” rating to a “strong sell” rating in a report on Monday, December 16th.

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.