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

Canopy Growth Co. (NASDAQ:CGC) saw a large increase in short interest in 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. Approximately 10.4% of the company’s shares are sold short. Based on an average trading volume of 6,870,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Canopy Growth

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC bought a new stake in Canopy Growth during the 3rd quarter valued at $1,882,000. Apollon Wealth Management LLC bought a new stake in Canopy Growth during the 4th quarter valued at $38,000. Financial Advocates Investment Management bought a new stake in Canopy Growth during the 3rd quarter valued at $57,000. Alberta Investment Management Corp bought a new position in shares of Canopy Growth in the 4th quarter worth $264,000. Finally, Centiva Capital LP bought a new position in shares of Canopy Growth in the 3rd quarter worth $257,000. 3.33% of the stock is owned by institutional investors.

Canopy Growth Stock Up 0.8 %

NASDAQ CGC traded up $0.01 on Tuesday, reaching $1.25. 6,612,105 shares of the stock traded hands, compared to its average volume of 8,362,816. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52. The company has a fifty day moving average price of $2.19 and a 200-day moving average price of $3.66. The company has a market cap of $194.27 million, a price-to-earnings ratio of -0.33 and a beta of 0.86. Canopy Growth has a 12 month low of $1.18 and a 12 month high of $14.92.

Analyst Ratings Changes

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

Canopy Growth Company 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.