TD Asset Management Inc raised its stake in Canopy Growth Co. (NASDAQ:CGC – Free Report) by 16.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,758 shares of the company’s stock after purchasing an additional 10,376 shares during the period. TD Asset Management Inc owned approximately 0.09% of Canopy Growth worth $483,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in shares of Canopy Growth in the 1st quarter valued at $21,718,000. Murchinson Ltd. acquired a new position in shares of Canopy Growth in the 1st quarter valued at $13,149,000. Baader Bank Aktiengesellschaft raised its stake in shares of Canopy Growth by 137.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 135,275 shares of the company’s stock valued at $873,000 after buying an additional 78,275 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Canopy Growth in the 1st quarter valued at $740,000. Finally, Virtu Financial LLC acquired a new position in shares of Canopy Growth in the 1st quarter valued at $544,000. 3.33% of the stock is owned by institutional investors.
Canopy Growth Trading Up 1.5 %
Shares of Canopy Growth stock opened at $4.79 on Monday. Canopy Growth Co. has a 12-month low of $2.76 and a 12-month high of $15.68. The company has a 50-day simple moving average of $6.32 and a 200 day simple moving average of $7.09. The company has a quick ratio of 1.64, a current ratio of 2.15 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $407.87 million, a P/E ratio of -0.75 and a beta of 0.87.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CGC. Piper Sandler dropped their target price on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th. Atb Cap Markets upgraded shares of Canopy Growth to a “hold” rating in a research report on Monday, June 17th.
View Our Latest Stock Analysis on CGC
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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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