Canopy Growth (NASDAQ:CGC) Downgraded by Atb Cap Markets to Strong Sell

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

Canopy Growth Stock Up 0.3 %

CGC opened at $3.05 on Monday. The company has a market cap of $332.28 million, a PE ratio of -0.62 and a beta of 0.83. Canopy Growth has a twelve month low of $2.76 and a twelve month high of $14.92. The company has a 50-day moving average price of $4.13 and a 200 day moving average price of $5.46. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new stake in Canopy Growth in the 3rd quarter valued at about $1,882,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of Canopy Growth in the third quarter valued at approximately $54,000. Centiva Capital LP purchased a new position in Canopy Growth during the third quarter worth approximately $257,000. Financial Advocates Investment Management acquired a new position in Canopy Growth during the third quarter worth $57,000. Finally, PFG Investments LLC purchased a new stake in Canopy Growth in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.

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.