Apollon Wealth Management LLC Acquires Shares of 13,722 Canopy Growth Co. (NASDAQ:CGC)

Apollon Wealth Management LLC bought a new stake in shares of Canopy Growth Co. (NASDAQ:CGC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,722 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new position in shares of Canopy Growth during the 3rd quarter valued at about $1,882,000. Centiva Capital LP acquired a new position in Canopy Growth in the third quarter valued at approximately $257,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Canopy Growth during the 3rd quarter worth about $97,000. Vontobel Holding Ltd. acquired a new position in Canopy Growth in the third quarter valued at about $92,000. Finally, Lake Street Private Wealth LLC lifted its position in Canopy Growth by 47.6% in the third quarter. Lake Street Private Wealth LLC now owns 44,638 shares of the company’s stock valued at $215,000 after buying an additional 14,398 shares during the last quarter. 3.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Canopy Growth Price Performance

Shares of CGC opened at $1.89 on Friday. The company’s 50-day simple moving average is $2.52 and its 200-day simple moving average is $4.07. The stock has a market capitalization of $293.73 million, a PE ratio of -0.38 and a beta of 0.86. 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 Co. has a 1 year low of $1.75 and a 1 year high of $14.92.

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 the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.