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

Wealthfront Advisers LLC bought a new position in Canopy Growth Co. (NASDAQ:CGC) 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.

About Canopy Growth

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.