Short Interest in Canopy Growth Co. (NASDAQ:CGC) Declines By 8.9%

Canopy Growth Co. (NASDAQ:CGC) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 9,190,000 shares, a decrease of 8.9% from the November 15th total of 10,090,000 shares. Approximately 9.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,370,000 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Canopy Growth

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC bought a new position in shares of Canopy Growth during the 3rd quarter worth $54,000. Sassicaia Capital Advisers LLC bought a new stake in shares of Canopy Growth in the third quarter valued at approximately $54,000. Financial Advocates Investment Management purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $57,000. CIBC Asset Management Inc purchased a new position in Canopy Growth in the 2nd quarter valued at approximately $91,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Canopy Growth during the third quarter worth $92,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.

Canopy Growth Stock Down 2.3 %

CGC traded down $0.07 during midday trading on Monday, hitting $3.04. The company had a trading volume of 3,867,610 shares, compared to its average volume of 7,478,441. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $4.18 and its 200 day moving average price is $5.54. The company has a market capitalization of $331.18 million, a price-to-earnings ratio of -0.62 and a beta of 0.83. Canopy Growth has a 52 week low of $2.76 and a 52 week high of $14.92.

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.