Canopy Growth Co. (NASDAQ:CGC) Short Interest Update

Canopy Growth Co. (NASDAQ:CGC) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,220,000 shares, a drop of 10.9% from the October 15th total of 9,230,000 shares. Approximately 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 4,600,000 shares, the days-to-cover ratio is presently 1.8 days.

Canopy Growth Stock Performance

Shares of CGC stock traded up $0.06 during trading hours on Monday, reaching $3.79. 4,682,567 shares of the company traded hands, compared to its average volume of 7,732,577. The company has a market cap of $399.31 million, a P/E ratio of -0.76 and a beta of 0.87. Canopy Growth has a 12-month low of $2.76 and a 12-month high of $14.92. The firm has a 50-day moving average price of $4.56 and a 200 day moving average price of $6.37. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.64.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CGC. Geode Capital Management LLC purchased a new stake in Canopy Growth during the third quarter valued at $1,882,000. Sassicaia Capital Advisers LLC purchased a new position in Canopy Growth in the 3rd quarter worth about $54,000. Centiva Capital LP bought a new stake in Canopy Growth during the 3rd quarter valued at $257,000. Financial Advocates Investment Management purchased a new stake in Canopy Growth in the third quarter worth about $57,000. Finally, PFG Investments LLC purchased a new stake in shares of Canopy Growth in the 3rd quarter worth approximately $54,000. Institutional investors own 3.33% of the company’s stock.

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.