Canopy Growth Sees Unusually Large Options Volume (NASDAQ:CGC)

Canopy Growth Co. (NASDAQ:CGC) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 15,526 call options on the company. This is an increase of approximately 42% compared to the average volume of 10,938 call options.

Canopy Growth Trading Up 0.8 %

Shares of CGC stock opened at $1.19 on Friday. Canopy Growth has a twelve month low of $0.77 and a twelve month high of $14.92. The stock’s fifty day simple moving average is $1.23 and its 200 day simple moving average is $2.69. The company has a quick ratio of 2.58, a current ratio of 3.52 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $188.75 million, a P/E ratio of -0.31 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CGC. Jones Financial Companies Lllp raised its stake in shares of Canopy Growth by 222.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company’s stock valued at $26,000 after acquiring an additional 6,430 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Canopy Growth during the 4th quarter worth $38,000. Dimensional Fund Advisors LP bought a new position in Canopy Growth during the 4th quarter worth $41,000. Concurrent Investment Advisors LLC grew its position in shares of Canopy Growth by 26.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company’s stock valued at $68,000 after buying an additional 5,172 shares during the last quarter. Finally, Two Sigma Securities LLC increased its stake in shares of Canopy Growth by 150.1% in the fourth quarter. Two Sigma Securities LLC now owns 26,517 shares of the company’s stock valued at $73,000 after buying an additional 15,916 shares during the period. Institutional investors own 3.33% of the company’s stock.

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.