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

Canopy Growth Co. (NASDAQ:CGC) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 14,840,000 shares, an increase of 55.7% from the January 31st total of 9,530,000 shares. Currently, 10.4% of the company’s stock are sold short. Based on an average trading volume of 6,870,000 shares, the days-to-cover ratio is presently 2.2 days.

Canopy Growth Price Performance

CGC opened at $1.40 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52. Canopy Growth has a 1-year low of $1.36 and a 1-year high of $14.92. The company has a 50-day moving average of $2.22 and a 200-day moving average of $3.72. The company has a market capitalization of $216.80 million, a P/E ratio of -0.37 and a beta of 0.86.

Analyst Upgrades and Downgrades

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

Institutional Trading of Canopy Growth

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of Canopy Growth in the 3rd quarter worth approximately $1,882,000. Tidal Investments LLC lifted its stake in Canopy Growth by 12.5% during the fourth quarter. Tidal Investments LLC now owns 2,263,873 shares of the company’s stock worth $6,203,000 after purchasing an additional 251,659 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Canopy Growth in the fourth quarter worth $587,000. Wealthfront Advisers LLC bought a new stake in Canopy Growth during the fourth quarter valued at $381,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of Canopy Growth during the fourth quarter worth $264,000. 3.33% of the stock is owned by 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.