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Winslow Evans & Crocker Inc. increased its ownership interest in Canopy Growth Corp (NYSE: CGC) by 83.5% in the third quarter, according to its latest filing on Form 13F with the Securities and Exchange Commission. The company owned 4,536 shares of the marijuana grower after purchasing 2,064 additional shares during the quarter. The holdings of Canopy Growth held by Winslow Evans & Crocker Inc. amounted to $ 222,000 on its last filing with the Securities and Exchange Commission.
A number of other large investors have recently increased or decreased their stake in the company. Gofen & Glossberg LLC IL acquired a new equity interest in Canopy Growth during the third quarter for $ 281,000. USA Mutuals Advisors Inc. acquired a new equity interest in Canopy Growth shares during the third quarter, valued at $ 777,000. Kiley Juergens Wealth Management LLC strengthened its position in Canopy Growth shares by 867.2% in the third quarter. Kiley Juergens Wealth Management LLC now holds 2,418 shares worth $ 117,000 among marijuana growers, following the purchase of an additional 2,168 shares in the last quarter. Heavy Capital LLC acquired a new investment of $ 435,000 in the third quarter in Canopy Growth shares. Finally, in the third quarter, ACG Wealth acquired a new equity interest in Canopy Growth shares valued at $ 482,000. 7.44% of the stock currently belongs to hedge funds and other institutional investors.
CGC shares rose $ 3.48 on Wednesday to $ 46.07. The company's shares recorded a trading volume of 26,719,621 shares, compared with an average volume of 5,859,716 shares. Canopy Growth Corp. has a minimum of $ 12.60 over 12 months and a maximum of $ 59.25 over 12 months. The company has a debt ratio of 0.50, a fast ratio of 5.53 and a current ratio of 6.84. The company has a market capitalization of $ 8.62 billion, a PE ratio of -143.97 and a beta of 3.70.
Canopy Growth (NYSE: CGC) released its quarterly results financial results on Tuesday, August 14. The marijuana producer reported earnings per share of ($ 0.31) for the quarter, missing Zacks' consensus estimate of ($ 0.12) from ($ 0.19). Canopy Growth had a negative net margin of 159.94% and a negative return on equity of 12.47%. The company had sales of $ 20.09 million for the quarter, compared to $ 21.04 million, according to badysts' forecasts. On average, badysts on the sellers' side expect Canopy Growth Corp to record a EPS of -0.41 for the current year.
Several equity research badysts published reports on the company. Cann has badumed coverage of Canopy Growth in a research report on Friday, October 12th. They set a odds and a target price of $ 30.00 on the stock. They noted that the move was a call for evaluation. The benchmark has badumed coverage of forest cover growth in a research report released on Tuesday, 25 September. They set a "buy" rating on the stock. Zacks Investment Research has upgraded Canopy Growth from a "sell" note to a "held" note in a research report released on Friday, September 21st. In a research report released Thursday, Aug. 16, Canaccord Genuity improved Canopy Growth from a "hold" rating to a "buy" rating. Finally, Scotiabank hedged Canopy Growth in a research report released on Wednesday, October 17. They issued a "hold" note and a $ 61.00 price target on the stock. Two investment badysts badigned a security rating, one issued a retention rating, and three rated the purchase price. The stock currently has a Conserve rating of "Keep" and an average target price of $ 36.67.
About Canopy Growth
Canopy Growth Corporation and its subsidiaries engage in the cultivation, possession and sale of cannabis for medical purposes in Canada. Its products include dried flowers, oils and concentrates, capsules and lucky ones. The company offers its products under the brand names Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow and Foria.
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