Wealthfront Advisers LLC Makes New Investment in Canopy Growth Co. (NASDAQ:CGC)

Wealthfront Advisers LLC bought a new position in Canopy Growth Co. (NASDAQ:CGCFree Report) in the fourth quarter, HoldingsChannel.com reports. The fund bought 139,177 shares of the company’s stock, valued at approximately $381,000.

A number of other large investors have also added to or reduced their stakes in CGC. Geode Capital Management LLC bought a new stake in Canopy Growth in the 3rd quarter worth approximately $1,882,000. SBI Securities Co. Ltd. purchased a new position in shares of Canopy Growth during the 4th quarter worth $587,000. Alberta Investment Management Corp purchased a new position in shares of Canopy Growth during the 4th quarter worth $264,000. Centiva Capital LP purchased a new position in shares of Canopy Growth during the 3rd quarter worth $257,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Canopy Growth during the 4th quarter worth $38,000. Institutional investors own 3.33% of the company’s stock.

Canopy Growth Trading Up 4.8 %

Shares of Canopy Growth stock opened at $1.10 on Monday. The company’s fifty day simple moving average is $1.89 and its 200-day simple moving average is $3.34. The stock has a market capitalization of $174.48 million, a PE ratio of -0.29 and a beta of 0.87. Canopy Growth Co. has a 1-year low of $1.05 and a 1-year high of $14.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.52 and a quick ratio of 2.58.

Analyst Ratings Changes

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

Get Our Latest Report on CGC

About Canopy Growth

(Free Report)

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.

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

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