Selz Capital LLC Invests $527,000 in Canopy Growth Corp (NYSE:CGC)

Selz Capital LLC bought a new position in Canopy Growth Corp (NYSE:CGC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 25,000 shares of the marijuana producer’s stock, valued at approximately $527,000.

Other large investors have also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC bought a new position in shares of Canopy Growth in the 2nd quarter worth approximately $39,000. Pathstone Family Office LLC bought a new position in shares of Canopy Growth in the 2nd quarter worth approximately $42,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Canopy Growth in the 2nd quarter worth approximately $52,000. Prime Capital Investment Advisors LLC raised its position in shares of Canopy Growth by 283.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,563 shares of the marijuana producer’s stock worth $36,000 after acquiring an additional 1,155 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new position in shares of Canopy Growth in the 3rd quarter worth approximately $36,000. 10.09% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Jefferies Financial Group downgraded Canopy Growth from a “hold” rating to an “underperform” rating and set a $25.00 price target on the stock. in a research note on Friday, October 11th. Compass Point cut their price target on Canopy Growth from $24.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Piper Jaffray Companies cut their price target on Canopy Growth from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Bank of America upgraded Canopy Growth from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Alliance Global Partners downgraded Canopy Growth from a “buy” rating to a “neutral” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Canopy Growth presently has a consensus rating of “Hold” and a consensus price target of $39.71.

Shares of Canopy Growth stock traded down $0.35 during midday trading on Thursday, hitting $24.55. The company had a trading volume of 667,026 shares, compared to its average volume of 7,585,895. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.04 and a current ratio of 8.38. The stock has a market capitalization of $8.62 billion, a P/E ratio of -15.54 and a beta of 3.59. The company has a 50 day moving average of $20.00 and a 200 day moving average of $25.07. Canopy Growth Corp has a 52-week low of $13.81 and a 52-week high of $52.74.

Canopy Growth (NYSE:CGC) last issued its earnings results on Thursday, November 14th. The marijuana producer reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.55). The business had revenue of $58.03 million for the quarter, compared to analysts’ expectations of $77.10 million. Canopy Growth had a negative net margin of 542.66% and a negative return on equity of 13.44%. Equities research analysts forecast that Canopy Growth Corp will post -1.68 EPS for the current year.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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