Canopy Growth Co. (NASDAQ:CGC) Short Interest Up 55.7% in February

Canopy Growth Co. (NASDAQ:CGC) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 14,840,000 shares, an increase of 55.7% from the January 31st total of 9,530,000 shares. Based on an average trading volume of 6,870,000 shares, the short-interest ratio is presently 2.2 days. Approximately 10.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Atb Cap Markets lowered Canopy Growth from a “hold” rating to a “strong sell” rating in a research report on Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in Canopy Growth during the 3rd quarter worth $1,882,000. Apollon Wealth Management LLC bought a new position in shares of Canopy Growth in the fourth quarter worth $38,000. Financial Advocates Investment Management bought a new position in shares of Canopy Growth in the third quarter worth $57,000. Alberta Investment Management Corp bought a new position in shares of Canopy Growth in the fourth quarter worth $264,000. Finally, Centiva Capital LP bought a new position in shares of Canopy Growth in the third quarter worth $257,000. 3.33% of the stock is currently owned by institutional investors.

Canopy Growth Stock Performance

CGC traded down $0.16 during trading on Monday, reaching $1.24. 9,880,033 shares of the company were exchanged, compared to its average volume of 8,406,220. The stock has a market cap of $192.71 million, a P/E ratio of -0.33 and a beta of 0.86. The firm has a 50 day moving average of $2.19 and a 200 day moving average of $3.66. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. Canopy Growth has a 52 week low of $1.21 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.