Canopy Growth (NASDAQ:CGC) Sees Unusually-High Trading Volume

Shares of Canopy Growth Co. (NASDAQ:CGC) saw an uptick in trading volume on Thursday . 293,761 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 6,656,089 shares.The stock last traded at $28.60 and had previously closed at $29.94.

A number of brokerages have issued reports on CGC. Stifel Nicolaus restated a “buy” rating and issued a $23.00 price objective on shares of Canopy Growth in a research note on Thursday, February 4th. Jefferies Financial Group downgraded Canopy Growth from a “hold” rating to an “underperform” rating in a research note on Wednesday, February 24th. Alliance Global Partners reduced their price objective on Canopy Growth from $60.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Investment Research downgraded Canopy Growth from a “hold” rating to a “sell” rating in a research note on Thursday, February 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Canopy Growth in a research note on Wednesday, February 10th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.61.

The business has a fifty day moving average of $33.76 and a 200-day moving average of $30.29. The firm has a market cap of $11.16 billion, a PE ratio of -8.96 and a beta of 2.44. The company has a current ratio of 7.06, a quick ratio of 5.84 and a debt-to-equity ratio of 0.10.

Canopy Growth (NASDAQ:CGC) last issued its quarterly earnings data on Monday, February 8th. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($2.22). The company had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $149.94 million. Canopy Growth had a negative return on equity of 13.11% and a negative net margin of 312.84%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the company posted ($0.35) EPS. On average, equities analysts forecast that Canopy Growth Co. will post -0.5 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. purchased a new stake in shares of Canopy Growth in the 4th quarter valued at about $30,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Canopy Growth in the 4th quarter valued at about $29,000. Avion Wealth purchased a new stake in shares of Canopy Growth in the 4th quarter valued at about $32,000. Allworth Financial LP raised its holdings in shares of Canopy Growth by 89.4% in the 4th quarter. Allworth Financial LP now owns 1,460 shares of the company’s stock valued at $36,000 after acquiring an additional 689 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Canopy Growth in the 4th quarter valued at about $41,000. 10.18% of the stock is currently owned by hedge funds and other institutional investors.

Canopy Growth Company Profile (NASDAQ:CGC)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis for recreational and medical purposes primarily in Canada, the United States, Germany, and the United Kingdom. It operates through two segments, Cannabis, Hemp and Other Consumer Products; and Canopy Rivers.

Featured Article: Debt-To-Equity Ratio

Receive News & Ratings for Canopy Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canopy Growth and related companies with MarketBeat.com's FREE daily email newsletter.