Canopy Growth Co. (NASDAQ:CGC) Short Interest Up 55.7% in February

Canopy Growth Co. (NASDAQ:CGC) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 14,840,000 shares, an increase of 55.7% from the January 31st total of 9,530,000 shares. Based on an average daily volume of 6,870,000 shares, the short-interest ratio is presently 2.2 days. Approximately 10.4% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in Canopy Growth by 222.9% in the 4th quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company’s stock valued at $26,000 after buying an additional 6,430 shares during the period. Sassicaia Capital Advisers LLC acquired a new position in Canopy Growth in the 3rd quarter valued at approximately $54,000. Financial Advocates Investment Management acquired a new position in Canopy Growth in the 3rd quarter valued at approximately $57,000. Apollon Wealth Management LLC acquired a new position in Canopy Growth in the 4th quarter valued at approximately $38,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Canopy Growth during the 4th quarter worth $41,000. Institutional investors and hedge funds own 3.33% of the company’s stock.

Canopy Growth Trading Down 11.1 %

Shares of NASDAQ CGC traded down $0.16 during mid-day trading on Monday, hitting $1.24. 9,880,033 shares of the company traded hands, compared to its average volume of 8,406,220. The business has a 50 day moving average of $2.19 and a two-hundred day moving average of $3.66. The stock has a market capitalization of $192.71 million, a price-to-earnings ratio of -0.33 and a beta of 0.86. The company has a quick ratio of 2.58, a current ratio of 3.52 and a debt-to-equity ratio of 0.74. Canopy Growth has a 1 year low of $1.21 and a 1 year high of $14.92.

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.