19,200 Shares in Canopy Growth Co. (NASDAQ:CGC) Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. acquired a new stake in Canopy Growth Co. (NASDAQ:CGC) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 19,200 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CGC. Concurrent Investment Advisors LLC purchased a new stake in Canopy Growth in the 1st quarter worth approximately $289,000. SG Americas Securities LLC bought a new stake in Canopy Growth in the first quarter valued at $740,000. Baader Bank Aktiengesellschaft increased its position in Canopy Growth by 137.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 135,275 shares of the company’s stock valued at $873,000 after purchasing an additional 78,275 shares during the period. Headlands Technologies LLC raised its holdings in Canopy Growth by 36,747.5% in the 2nd quarter. Headlands Technologies LLC now owns 117,912 shares of the company’s stock worth $761,000 after purchasing an additional 117,592 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Canopy Growth in the 1st quarter worth about $475,000. Institutional investors own 3.33% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 9th.

Canopy Growth Trading Up 1.2 %

CGC opened at $5.04 on Thursday. The stock has a market cap of $384.04 million, a PE ratio of -0.79 and a beta of 0.86. The business has a 50 day moving average of $4.97 and a 200-day moving average of $6.90. Canopy Growth Co. has a 52 week low of $2.76 and a 52 week high of $14.92. The company has a quick ratio of 1.64, a current ratio of 2.15 and a debt-to-equity ratio of 1.05.

Canopy Growth (NASDAQ:CGC) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.06). The firm had revenue of $48.39 million for the quarter, compared to analysts’ expectations of $51.82 million. Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 73.30%. Equities research analysts predict that Canopy Growth Co. will post -1.42 earnings per share for the current fiscal year.

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.