Shares of Canopy Growth Co. (NASDAQ:CGC – Get Rating) have received a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.37.
Several research firms have commented on CGC. Oppenheimer reissued a “market perform” rating on shares of Canopy Growth in a research report on Wednesday. Canaccord Genuity Group cut their price objective on Canopy Growth from $12.00 to $10.00 in a research report on Thursday, February 10th. Alliance Global Partners cut their price objective on Canopy Growth from C$8.00 to C$7.00 in a research report on Friday, May 27th. Zacks Investment Research lowered Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Barclays lowered Canopy Growth from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 22nd.
NASDAQ:CGC opened at $4.71 on Friday. The business’s 50-day moving average is $6.11 and its two-hundred day moving average is $7.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.31 and a quick ratio of 6.78. Canopy Growth has a 12 month low of $4.56 and a 12 month high of $26.96. The firm has a market capitalization of $1.86 billion, a PE ratio of -6.63 and a beta of 2.00.
A number of hedge funds have recently modified their holdings of CGC. Amundi Pioneer Asset Management Inc. boosted its stake in Canopy Growth by 6.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 36,373 shares of the company’s stock valued at $1,577,000 after acquiring an additional 2,296 shares during the period. Wells Fargo & Company MN boosted its stake in Canopy Growth by 7.6% in the second quarter. Wells Fargo & Company MN now owns 29,817 shares of the company’s stock valued at $721,000 after acquiring an additional 2,107 shares during the period. Morgan Stanley boosted its position in shares of Canopy Growth by 4.5% during the second quarter. Morgan Stanley now owns 2,090,945 shares of the company’s stock worth $50,559,000 after buying an additional 89,385 shares during the period. Citigroup Inc. boosted its position in shares of Canopy Growth by 49.7% during the third quarter. Citigroup Inc. now owns 126,463 shares of the company’s stock worth $1,752,000 after buying an additional 41,972 shares during the period. Finally, First Republic Investment Management Inc. boosted its position in shares of Canopy Growth by 26.2% during the third quarter. First Republic Investment Management Inc. now owns 12,608 shares of the company’s stock worth $175,000 after buying an additional 2,619 shares during the period. Institutional investors own 16.59% of the company’s stock.
Canopy Growth Company Profile (Get Rating)
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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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