Parallel Advisors LLC Decreases Holdings in Canopy Growth Corp (NYSE:CGC)

Parallel Advisors LLC trimmed its stake in Canopy Growth Corp (NYSE:CGC) by 27.7% during the 4th quarter, according to its most recent 13F filing …

Canopy Growth logoParallel Advisors LLC trimmed its stake in Canopy Growth Corp (NYSE:CGC) by 27.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,082 shares of the marijuana producer’s stock after selling 799 shares during the period. Parallel Advisors LLC’s holdings in Canopy Growth were worth $55,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Morgan Stanley grew its position in shares of Canopy Growth by 243.3% during the 3rd quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock worth $201,598,000 after buying an additional 2,937,286 shares during the period. ETF Managers Group LLC bought a new stake in shares of Canopy Growth in the fourth quarter worth $40,644,000. Macquarie Group Ltd. bought a new stake in shares of Canopy Growth in the third quarter worth $66,202,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canopy Growth by 234.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,802,260 shares of the marijuana producer’s stock worth $87,492,000 after purchasing an additional 1,263,825 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Canopy Growth in the third quarter worth $20,127,000. Institutional investors own 11.84% of the company’s stock.

CGC has been the topic of several analyst reports. Piper Jaffray Companies set a $60.00 price target on shares of Canopy Growth and gave the stock a “buy” rating in a research report on Friday, February 15th. CIBC began coverage on shares of Canopy Growth in a research report on Friday, January 18th. They issued an “outperform” rating on the stock. TheStreet raised shares of Canopy Growth from a “d+” rating to a “c” rating in a research report on Friday, March 1st. GMP Securities lowered shares of Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Finally, Seaport Global Securities started coverage on shares of Canopy Growth in a research report on Thursday, February 21st. They issued a “neutral” rating and a $46.27 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Canopy Growth has an average rating of “Hold” and a consensus target price of $49.32.

Canopy Growth stock traded down $0.56 during mid-day trading on Thursday, hitting $45.52. 4,825,982 shares of the stock were exchanged, compared to its average volume of 10,287,836. Canopy Growth Corp has a 12 month low of $18.93 and a 12 month high of $59.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 17.12 and a current ratio of 17.85. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of -142.25 and a beta of 4.29.

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Canopy Growth Profile

Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules, and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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Canopy Growth (NYSE:CGC) Downgraded by GMP Securities

They set an overweight rating and a $40.00 price objective for the company. CIBC started coverage on Canopy Growth in a report on Friday, January …

Canopy Growth Corp logoGMP Securities downgraded shares of Canopy Growth (NYSE:CGC) from a buy rating to a hold rating in a research note published on Tuesday, February 19th, Marketbeat Ratings reports.

Several other analysts have also commented on CGC. Piper Jaffray Companies initiated coverage on Canopy Growth in a report on Wednesday, January 9th. They set an overweight rating and a $40.00 price objective for the company. CIBC started coverage on Canopy Growth in a report on Friday, January 18th. They set an outperform rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $49.32.

Canopy Growth stock traded down $0.56 during mid-day trading on Tuesday, reaching $45.52. 4,825,982 shares of the company were exchanged, compared to its average volume of 10,287,836. The company has a quick ratio of 17.12, a current ratio of 17.85 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.51 billion, a P/E ratio of -142.25 and a beta of 4.29. Canopy Growth has a 12-month low of $18.93 and a 12-month high of $59.25.

Several large investors have recently bought and sold shares of CGC. Bank of America Corp DE purchased a new stake in shares of Canopy Growth during the 2nd quarter valued at approximately $342,000. Truvestments Capital LLC purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $150,000. Telemus Capital LLC purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $632,000. HighPoint Advisor Group LLC purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $221,000. Finally, Exane Derivatives purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 11.84% of the company’s stock.

Canopy Growth Company Profile

Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules, and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

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Analyst Recommendations for Canopy Growth (NYSE:CGC)

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Canopy Growth Corp (CGC) Shares Bought by Usca Ria LLC

Usca Ria LLC increased its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 103.2% during the fourth quarter, according to the company in …

Canopy Growth logoUsca Ria LLC increased its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 103.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,535 shares of the marijuana producer’s stock after purchasing an additional 4,335 shares during the quarter. Usca Ria LLC’s holdings in Canopy Growth were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Canopy Growth by 3,902.3% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 344,200 shares of the marijuana producer’s stock worth $21,599,000 after buying an additional 335,600 shares during the period. TD Asset Management Inc. raised its stake in shares of Canopy Growth by 13.7% in the third quarter. TD Asset Management Inc. now owns 749,234 shares of the marijuana producer’s stock worth $36,372,000 after buying an additional 90,068 shares during the period. Morgan Stanley raised its stake in shares of Canopy Growth by 243.3% in the third quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock worth $201,598,000 after buying an additional 2,937,286 shares during the period. HRT Financial LLC bought a new position in shares of Canopy Growth in the third quarter worth about $1,119,000. Finally, Vanguard Group Inc. raised its stake in shares of Canopy Growth by 4.4% in the third quarter. Vanguard Group Inc. now owns 4,310,420 shares of the marijuana producer’s stock worth $209,658,000 after buying an additional 180,130 shares during the period. 11.84% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on CGC. Jefferies Financial Group started coverage on Canopy Growth in a research note on Monday, February 25th. They issued a “hold” rating on the stock. Piper Jaffray Companies set a $60.00 target price on Canopy Growth and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Seaport Global Securities started coverage on Canopy Growth in a research report on Thursday, February 21st. They set a “neutral” rating and a $46.27 target price for the company. GMP Securities cut Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Finally, TheStreet upgraded Canopy Growth from a “d+” rating to a “c” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Canopy Growth currently has an average rating of “Hold” and an average target price of $49.32.

NYSE CGC traded down $1.06 during trading on Thursday, hitting $45.02. 3,176,080 shares of the stock traded hands, compared to its average volume of 6,871,815. The stock has a market capitalization of $10.70 billion, a PE ratio of -140.69 and a beta of 4.29. Canopy Growth Corp has a 12-month low of $18.93 and a 12-month high of $59.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12.

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Canopy Growth Profile

Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules, and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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Strategic Wealth Advisors Group LLC Buys New Holdings in Canopy Growth Corp (NYSE:CGC)

Strategic Wealth Advisors Group LLC bought a new position in Canopy Growth Corp (NYSE:CGC) during the fourth quarter, according to the company …

Canopy Growth logoStrategic Wealth Advisors Group LLC bought a new position in Canopy Growth Corp (NYSE:CGC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,282 shares of the marijuana producer’s stock, valued at approximately $466,000.

Several other institutional investors have also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. purchased a new position in Canopy Growth during the fourth quarter valued at approximately $804,000. Advisor Group Inc. increased its position in shares of Canopy Growth by 92.0% in the fourth quarter. Advisor Group Inc. now owns 91,833 shares of the marijuana producer’s stock valued at $2,468,000 after buying an additional 44,000 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new stake in shares of Canopy Growth in the fourth quarter valued at approximately $231,000. Commonwealth Equity Services LLC increased its position in shares of Canopy Growth by 19.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 241,282 shares of the marijuana producer’s stock valued at $6,483,000 after buying an additional 39,747 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Canopy Growth by 62.0% in the fourth quarter. Bank of Nova Scotia now owns 404,562 shares of the marijuana producer’s stock valued at $10,871,000 after buying an additional 154,809 shares in the last quarter. Hedge funds and other institutional investors own 11.84% of the company’s stock.

NYSE CGC traded down $0.88 during trading hours on Thursday, hitting $45.20. 2,563,771 shares of the company were exchanged, compared to its average volume of 6,871,815. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12. Canopy Growth Corp has a 52-week low of $18.93 and a 52-week high of $59.25. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -141.25 and a beta of 4.29.

Several analysts recently commented on the company. Piper Jaffray Companies set a $60.00 price target on Canopy Growth and gave the stock a “buy” rating in a research report on Saturday, February 2nd. GMP Securities cut Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. TheStreet raised Canopy Growth from a “d+” rating to a “c” rating in a research note on Friday, March 1st. Seaport Global Securities started coverage on Canopy Growth in a research note on Thursday, February 21st. They set a “neutral” rating and a $46.27 price objective on the stock. Finally, Jefferies Financial Group started coverage on Canopy Growth in a research note on Monday, February 25th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Canopy Growth has a consensus rating of “Hold” and an average price target of $49.32.

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About Canopy Growth

Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules, and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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Canopy Growth Corp (CGC) Ichimoku Levels Point to Positive Stock Momentum

Shares of Canopy Growth Corp (CGC) opened the last session at $45.82, touching a high of $47.98 and a low of $45.68 , yielding a change of 0.75.

Shares of Canopy Growth Corp (CGC) opened the last session at $45.82, touching a high of $47.98 and a low of $45.68 , yielding a change of 0.75. The latest reading places the stock above the Ichimoku cloud which indicates positive momentum and a potential buy signal for the equity.

There are plenty of technical indicators that traders can choose to follow. With so many different signals to follow, traders may choose to focus on a small number of indicators to start. Many technical analysts will use a combination of different signals in order to help identify the best entry and exit points of a trade. Becoming a master at spotting trends and creating charts may seem impossible for the novice investor. Taking the time to fully understand the methods behind the indicators may help the trader with trying to sort everything out. Studying up on the theory behind some of the more popular indicators may help the trader understand exactly what they are doing when setting up their charts.

The Ichimoku cloud is a favorite technical indicator used primarily in Asian markets. The cloud is one of the only indicators that is both forward and backward looking. The cloud produces better levels of support and resistance and is a breakout trader’s best friend. The cloud is also one of the easiest indicators to use. Any trader, regardless of skill level or expertise, can use the cloud to quickly and efficiently analyze any product on any time frame. The cloud shines in the fact that it can be universally applied to any trading plan by any trader.

It is a type of chart used in technical analysis to display support and resistance, momentum, and trend in one view. TenkanSen and KijunSen are similar to moving averages and analyzed in relationship to one another. When the shorter term indicator, TenkanSen, rises above the longer term indicator, KijunSen, the securities trend is typically positive. When TenkanSen falls below KijunSen, the securities trend is typically negative. TenkanSen and KijunSen as a group are then analyzed in relationship to the Cloud, which is composed of the area between Senkou A and Senkou B. A multi-faceted indicator designed to give support/resistance levels, trend direction, and entry/exit points of varying strengths. General theory behind this indicator states that if price action is above the cloud, the overall trend is bullish, and if below the cloud, the overall trend is bearish. There are also moving averages (the Tenkan and Kijun lines) which act like the MACD crossover signals with the Tenkan crossing from underneath the Kijun as a bullish signal, while crossing overhead giving a bearish signal.

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Checking on some popular technical levels, Canopy Growth Corp (CGC) has a 14-day Commodity Channel Index (CCI) of 56.18. The CCI technical indicator can be employed to help figure out if a stock is entering overbought or oversold territory. CCI may also be used to help discover divergences that may signal reversal moves. A CCI closer to +100 may provide an overbought signal, and a CCI near -100 may provide an oversold signal.

Tracking other technical indicators, the 14-day RSI is presently standing at 55.18, the 7-day sits at 55.73, and the 3-day is resting at 67.94 for Canopy Growth Corp (CGC). The Relative Strength Index (RSI) is a highly popular technical indicator. The RSI is computed base on the speed and direction of a stock’s price movement. The RSI is considered to be an internal strength indicator, not to be confused with relative strength which is compared to other stocks and indices. The RSI value will always move between 0 and 100. One of the most popular time frames using RSI is the 14-day.

Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time. Currently, the 7-day moving average is sitting at 46.30.

Inexperienced investors may have the tendency to purchase stocks that have recently been on a big run higher. This may be a result of not paying close attention to the fundamentals, or simply hoping that the stock will continue the move higher. Buying after a big move to the upside may mean that the investor is essentially paying too much for the stock at those levels. Sometimes a stock will take off and get too far ahead of its underlying value which may result in the price being overvalued. Keeping a close eye on the fundamentals may be a good way for the investor to know where the stock stands at any point in time.

Let’s take a further look at the Average Directional Index or ADX. The ADX measures the strength or weakness of a particular trend. Investors and traders may be looking to figure out if a stock is trending before employing a specific trading strategy. The ADX is typically used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) which point to the direction of the trend. The 14-day ADX for Canopy Growth Corp (CGC) is currently at 19.86. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend.

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