SBI Securities Co. Ltd. Has $650,000 Stake in Canopy Growth Corporation $CGC

SBI Securities Co. Ltd. raised its stake in Canopy Growth Corporation (NASDAQ:CGC) by 47.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 532,541 shares of the company’s stock after purchasing an additional 171,803 shares during the period. SBI Securities Co. Ltd.’s holdings in Canopy Growth were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CGC. Wealth Enhancement Advisory Services LLC raised its holdings in Canopy Growth by 81.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,336 shares of the company’s stock worth $41,000 after buying an additional 14,498 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Canopy Growth by 56.5% during the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company’s stock worth $47,000 after buying an additional 18,202 shares during the last quarter. TD Asset Management Inc increased its position in Canopy Growth by 47.3% in the first quarter. TD Asset Management Inc now owns 112,721 shares of the company’s stock worth $104,000 after buying an additional 36,211 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in Canopy Growth by 98.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 153,856 shares of the company’s stock valued at $140,000 after acquiring an additional 76,395 shares during the period. Finally, Sullivan Wood Capital Management LLC purchased a new stake in shares of Canopy Growth during the 2nd quarter valued at approximately $215,000. 3.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CGC. Wall Street Zen raised Canopy Growth from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research raised shares of Canopy Growth to a “hold” rating in a research note on Tuesday, August 12th. Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Canopy Growth in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell”.

Canopy Growth Trading Down 7.6%

CGC stock opened at $1.10 on Friday. The company has a quick ratio of 2.12, a current ratio of 5.50 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $263.84 million, a price-to-earnings ratio of -0.56 and a beta of 0.82. The firm’s fifty day simple moving average is $1.34 and its two-hundred day simple moving average is $1.35. Canopy Growth Corporation has a twelve month low of $0.77 and a twelve month high of $4.25.

Canopy Growth (NASDAQ:CGC) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. The company had revenue of $47.86 million during the quarter, compared to analyst estimates of $71.82 million. Canopy Growth had a negative net margin of 113.21% and a negative return on equity of 61.97%. As a group, analysts anticipate that Canopy Growth Corporation will post -2.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Luc Mongeau acquired 27,469 shares of the stock in a transaction dated Monday, September 22nd. The stock was acquired at an average cost of $1.82 per share, for a total transaction of $49,993.58. Following the completion of the purchase, the chief executive officer owned 812,368 shares of the company’s stock, valued at approximately $1,478,509.76. This represents a 3.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christelle Gedeon sold 16,929 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $1.74, for a total value of $29,456.46. Following the sale, the insider owned 368,488 shares in the company, valued at approximately $641,169.12. The trade was a 4.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 50,300 shares of company stock worth $84,373. Insiders own 0.16% of the company’s stock.

Canopy Growth 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.