Canopy Growth Co. (NASDAQ:CGC) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC cut its holdings in Canopy Growth Co. (NASDAQ:CGC) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,540 shares of the company’s stock after selling 8,098 shares during the period. Lake Street Private Wealth LLC’s holdings in Canopy Growth were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. PFG Investments LLC acquired a new stake in Canopy Growth during the 3rd quarter worth $54,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of Canopy Growth during the third quarter worth about $54,000. Financial Advocates Investment Management purchased a new stake in shares of Canopy Growth in the 3rd quarter valued at about $57,000. Vontobel Holding Ltd. acquired a new stake in shares of Canopy Growth in the 3rd quarter valued at about $92,000. Finally, Insigneo Advisory Services LLC purchased a new position in Canopy Growth during the 2nd quarter worth approximately $96,000. 3.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Canopy Growth Price Performance

Shares of NASDAQ:CGC opened at $2.18 on Friday. Canopy Growth Co. has a one year low of $2.15 and a one year high of $14.92. The company has a 50-day simple moving average of $3.21 and a 200-day simple moving average of $4.77. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

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.