Ingalls & Snyder LLC lessened its position in Canopy Growth Corp (NYSE:CGC) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,890 shares of the marijuana producer’s stock after selling 3,150 shares during the period. Ingalls & Snyder LLC’s holdings in Canopy Growth were worth $1,052,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Stonebridge Capital Advisors LLC bought a new position in shares of Canopy Growth in the second quarter valued at about $39,000. Pathstone Family Office LLC bought a new stake in Canopy Growth during the 2nd quarter worth about $42,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Canopy Growth during the 2nd quarter worth about $52,000. Prime Capital Investment Advisors LLC raised its holdings in Canopy Growth by 283.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,563 shares of the marijuana producer’s stock worth $36,000 after purchasing an additional 1,155 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new stake in Canopy Growth during the 3rd quarter worth about $36,000. Institutional investors own 10.09% of the company’s stock.
Canopy Growth stock opened at $24.90 on Thursday. The firm has a market capitalization of $8.68 billion, a P/E ratio of -15.66 and a beta of 3.59. Canopy Growth Corp has a 1 year low of $13.81 and a 1 year high of $52.74. The business has a 50-day moving average of $20.00 and a 200-day moving average of $25.07. The company has a current ratio of 8.38, a quick ratio of 7.04 and a debt-to-equity ratio of 0.10.
Canopy Growth (NYSE:CGC) last posted its earnings results on Thursday, November 14th. The marijuana producer reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.55). Canopy Growth had a negative return on equity of 13.44% and a negative net margin of 542.66%. The company had revenue of $58.03 million for the quarter, compared to analyst estimates of $77.10 million. Research analysts anticipate that Canopy Growth Corp will post -1.68 EPS for the current fiscal year.
Several analysts have weighed in on the company. Compass Point dropped their price objective on Canopy Growth from $24.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Eight Capital lowered Canopy Growth to a “hold” rating and set a $25.00 target price for the company. in a research report on Friday, November 29th. Jefferies Financial Group lowered Canopy Growth from a “hold” rating to an “underperform” rating and set a $25.00 target price for the company. in a research report on Friday, October 11th. Zacks Investment Research upgraded Canopy Growth from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, October 31st. Finally, TheStreet lowered Canopy Growth from a “c-” rating to a “d+” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.71.
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.
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