Alberta Investment Management Corp Takes $264,000 Position in Canopy Growth Co. (NASDAQ:CGC)

Alberta Investment Management Corp bought a new position in Canopy Growth Co. (NASDAQ:CGC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 96,500 shares of the company’s stock, valued at approximately $264,000.

A number of other large investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in Canopy Growth in the 4th quarter valued at $38,000. PFG Investments LLC purchased a new stake in shares of Canopy Growth during the third quarter valued at $54,000. Sassicaia Capital Advisers LLC purchased a new stake in shares of Canopy Growth during the third quarter valued at $54,000. Financial Advocates Investment Management bought a new position in shares of Canopy Growth in the third quarter worth about $57,000. Finally, Centiva Capital LP purchased a new position in Canopy Growth in the 3rd quarter worth about $257,000. 3.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Canopy Growth Trading Up 1.2 %

CGC opened at $1.63 on Friday. The company has a quick ratio of 2.58, a current ratio of 3.52 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $2.36 and its two-hundred day moving average is $3.90. The company has a market capitalization of $253.32 million, a P/E ratio of -0.43 and a beta of 0.86. Canopy Growth Co. has a 52 week low of $1.58 and a 52 week high of $14.92.

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