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

Canopy Growth Co. (NASDAQ:CGC) 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.

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.