CannTrust Holdings Inc (NYSE:CTST) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 12,910,000 shares, a growth of 12.6% from the January 15th total of 11,470,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is presently 7.3 days. Currently, 10.8% of the company’s shares are sold short.
A number of research analysts have commented on the stock. ValuEngine cut shares of CannTrust from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Zacks Investment Research raised shares of CannTrust from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. CannTrust currently has an average rating of “Hold” and an average price target of C$3.63.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in CannTrust by 45.7% in the 2nd quarter. Vanguard Group Inc. now owns 91,405 shares of the company’s stock worth $459,000 after acquiring an additional 28,677 shares in the last quarter. Morgan Stanley grew its holdings in shares of CannTrust by 17.0% during the second quarter. Morgan Stanley now owns 1,266,411 shares of the company’s stock worth $6,357,000 after buying an additional 184,341 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of CannTrust by 241.1% during the second quarter. UBS Asset Management Americas Inc. now owns 64,800 shares of the company’s stock worth $325,000 after buying an additional 45,800 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of CannTrust by 96.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 32,334 shares of the company’s stock worth $163,000 after buying an additional 15,860 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of CannTrust during the third quarter worth $244,000. 23.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of CTST traded up C$0.03 during mid-day trading on Friday, hitting C$0.84. 3,409,975 shares of the company’s stock were exchanged, compared to its average volume of 1,854,725. The company has a market cap of $113.93 million, a price-to-earnings ratio of -7.64 and a beta of 3.20. CannTrust has a fifty-two week low of C$0.75 and a fifty-two week high of C$10.17. The stock’s 50-day moving average is C$1.03 and its 200-day moving average is C$1.27.
CannTrust Company Profile
CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.
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