Canopy Growth (NASDAQ:CGC) Lowered to “Strong Sell” Rating by Atb Cap Markets

Atb Cap Markets lowered shares of Canopy Growth (NASDAQ:CGC) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Canopy Growth Stock Performance

CGC stock opened at $3.05 on Monday. The firm has a 50-day simple moving average of $4.13 and a two-hundred day simple moving average of $5.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.39. Canopy Growth has a one year low of $2.76 and a one year high of $14.92. The firm has a market cap of $332.28 million, a price-to-earnings ratio of -0.62 and a beta of 0.83.

Institutional Trading of Canopy Growth

Large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its stake in shares of Canopy Growth by 19.9% in the second quarter. Commonwealth Equity Services LLC now owns 55,566 shares of the company’s stock worth $358,000 after buying an additional 9,226 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Canopy Growth in the second quarter valued at $91,000. TD Asset Management Inc increased its holdings in Canopy Growth by 16.1% in the second quarter. TD Asset Management Inc now owns 74,758 shares of the company’s stock valued at $483,000 after buying an additional 10,376 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Canopy Growth by 36,747.5% in the second quarter. Headlands Technologies LLC now owns 117,912 shares of the company’s stock worth $761,000 after acquiring an additional 117,592 shares during the period. Finally, AdvisorShares Investments LLC grew its position in shares of Canopy Growth by 86.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 68,922 shares of the company’s stock valued at $440,000 after acquiring an additional 32,000 shares during the period. 3.33% of the stock is owned by hedge funds and other institutional investors.

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