Canopy Growth Co. (NASDAQ:CGC) Shares Acquired by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft grew its holdings in Canopy Growth Co. (NASDAQ:CGC) by 137.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,275 shares of the company’s stock after purchasing an additional 78,275 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Canopy Growth were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CGC. PCG Wealth Advisors LLC raised its position in Canopy Growth by 73.6% in the first quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock valued at $271,000 after purchasing an additional 13,300 shares during the period. Genesee Capital Advisors LLC raised its holdings in shares of Canopy Growth by 29.9% in the 1st quarter. Genesee Capital Advisors LLC now owns 13,047 shares of the company’s stock valued at $113,000 after buying an additional 3,000 shares during the period. Gainplan LLC acquired a new position in Canopy Growth during the 1st quarter worth about $302,000. SG Americas Securities LLC purchased a new position in Canopy Growth during the 1st quarter valued at about $740,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Canopy Growth in the 1st quarter valued at about $289,000. Institutional investors and hedge funds own 3.33% of the company’s stock.

Canopy Growth Stock Up 2.0 %

CGC stock traded up $0.14 during midday trading on Thursday, hitting $6.98. The company’s stock had a trading volume of 2,417,243 shares, compared to its average volume of 8,900,150. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 0.99. Canopy Growth Co. has a 52-week low of $2.76 and a 52-week high of $19.20. The firm has a market capitalization of $592.32 million, a P/E ratio of -1.07 and a beta of 0.93. The firm has a 50-day simple moving average of $6.92 and a 200-day simple moving average of $6.83.

Canopy Growth (NASDAQ:CGC) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.05. Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 71.08%. The company had revenue of $53.99 million during the quarter, compared to analysts’ expectations of $52.71 million. As a group, equities analysts forecast that Canopy Growth Co. will post -1.07 EPS for the current year.

Wall Street Analyst Weigh In

CGC has been the subject of several recent research reports. Piper Sandler lowered their price objective on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, July 9th. Atb Cap Markets raised shares of Canopy Growth to a “hold” rating in a research report on Monday, June 17th.

Insiders Place Their Bets

In related news, Director Willy Kruh sold 3,738 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $9.94, for a total transaction of $37,155.72. Following the completion of the sale, the director now owns 17,295 shares in the company, valued at $171,912.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 7,545 shares of company stock worth $67,997 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Canopy Growth 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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.