Canopy Growth Co. (NASDAQ:CGC – Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 7,960,000 shares, a growth of 6.4% from the September 15th total of 7,480,000 shares. Based on an average daily volume of 3,670,000 shares, the short-interest ratio is presently 2.2 days. Currently, 9.5% of the shares of the company are short sold.
Wall Street Analyst Weigh In
Separately, Piper Sandler dropped their price target on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th.
View Our Latest Analysis on Canopy Growth
Institutional Trading of Canopy Growth
Canopy Growth Trading Up 1.2 %
Shares of CGC opened at $4.31 on Friday. Canopy Growth has a fifty-two week low of $2.76 and a fifty-two week high of $14.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.64 and a current ratio of 2.15. The company’s fifty day moving average is $5.09 and its 200 day moving average is $7.03. The stock has a market capitalization of $328.41 million, a PE ratio of -0.68 and a beta of 0.86.
Canopy Growth (NASDAQ:CGC – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 73.30%. The business had revenue of $48.39 million during the quarter, compared to the consensus estimate of $51.82 million. Sell-side analysts expect that Canopy Growth 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.
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