Hudock Capital Group LLC raised its stake in Canopy Growth Corp (NYSE:CGC) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,388 shares of the marijuana producer’s stock after buying an additional 520 shares during the quarter. Hudock Capital Group LLC’s holdings in Canopy Growth were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Canopy Growth by 4,386.9% in the fourth quarter. Bank of New York Mellon Corp now owns 226,500 shares of the marijuana producer’s stock valued at $6,086,000 after purchasing an additional 221,452 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Canopy Growth in the fourth quarter valued at approximately $791,000. Nordea Investment Management AB acquired a new position in shares of Canopy Growth in the fourth quarter valued at approximately $308,000. Norges Bank acquired a new position in Canopy Growth during the 4th quarter worth approximately $30,296,000. Finally, Deutsche Bank AG grew its holdings in Canopy Growth by 111.2% during the 4th quarter. Deutsche Bank AG now owns 176,861 shares of the marijuana producer’s stock worth $4,749,000 after acquiring an additional 93,136 shares in the last quarter. 8.16% of the stock is currently owned by hedge funds and other institutional investors.
CGC has been the subject of several analyst reports. Consumer Edge initiated coverage on shares of Canopy Growth in a report on Friday, June 28th. They set an “equal weight” rating for the company. Desjardins reiterated a “hold” rating on shares of Canopy Growth in a report on Thursday, July 4th. Zacks Investment Research cut shares of Canopy Growth from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. LADENBURG THALM/SH SH initiated coverage on shares of Canopy Growth in a report on Wednesday, July 17th. They set a “buy” rating and a $50.00 price target for the company. Finally, Bank of America set a $53.00 price target on shares of Canopy Growth and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.86.
Shares of NYSE:CGC opened at $32.90 on Friday. The company has a quick ratio of 11.49, a current ratio of 12.32 and a debt-to-equity ratio of 0.12. Canopy Growth Corp has a twelve month low of $24.46 and a twelve month high of $59.25. The business’s 50 day moving average is $36.54.
Canopy Growth (NYSE:CGC) last issued its quarterly earnings data on Thursday, June 20th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.50). The company had revenue of $70.74 million for the quarter, compared to analysts’ expectations of $71.06 million. Canopy Growth had a negative return on equity of 15.82% and a negative net margin of 304.03%. On average, equities research analysts forecast that Canopy Growth Corp will post -0.9 EPS for the current year.
Canopy Growth Company Profile
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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