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

by · The Cerbat Gem

Canopy Growth Co. (NASDAQ:CGC – Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 9,760,000 shares, an increase of 6.2% from the November 30th total of 9,190,000 shares. Currently, 10.0% of the company’s stock are short sold. Based on an average trading volume of 5,800,000 shares, the days-to-cover ratio is currently 1.7 days.

Canopy Growth Stock Performance

Shares of Canopy Growth stock remained flat at $2.74 on Wednesday. The stock had a trading volume of 4,574,971 shares, compared to its average volume of 7,400,490. Canopy Growth has a 12-month low of $2.65 and a 12-month high of $14.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.07. The stock’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $5.13. The firm has a market capitalization of $298.50 million, a PE ratio of -0.56 and a beta of 0.83.

Hedge Funds Weigh In On Canopy Growth

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new stake in shares of Canopy Growth during the third quarter valued at approximately $1,882,000. Headlands Technologies LLC boosted its holdings in shares of Canopy Growth by 36,747.5% in the 2nd quarter. Headlands Technologies LLC now owns 117,912 shares of the company’s stock worth $761,000 after buying an additional 117,592 shares during the last quarter. Squarepoint Ops LLC grew its position in Canopy Growth by 168.6% during the second quarter. Squarepoint Ops LLC now owns 91,227 shares of the company’s stock valued at $588,000 after buying an additional 57,262 shares during the period. TD Asset Management Inc increased its holdings in Canopy Growth by 16.1% during the second quarter. TD Asset Management Inc now owns 74,758 shares of the company’s stock worth $483,000 after buying an additional 10,376 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its position in Canopy Growth by 86.7% in the second quarter. AdvisorShares Investments LLC now owns 68,922 shares of the company’s stock worth $440,000 after acquiring an additional 32,000 shares during the period. 3.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Read Our Latest Report on CGC

About Canopy Growth

(Get Free Report)

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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