SBI Securities Co. Ltd. Takes $587,000 Position in Canopy Growth Co. (NASDAQ:CGC)

SBI Securities Co. Ltd. bought a new stake in Canopy Growth Co. (NASDAQ:CGC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 214,250 shares of the company’s stock, valued at approximately $587,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in Canopy Growth by 222.9% in the fourth quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company’s stock valued at $26,000 after acquiring an additional 6,430 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Canopy Growth by 26.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company’s stock valued at $68,000 after acquiring an additional 5,172 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Canopy Growth in the fourth quarter valued at approximately $264,000. Apollon Wealth Management LLC bought a new stake in Canopy Growth in the fourth quarter valued at approximately $38,000. Finally, Geode Capital Management LLC bought a new stake in Canopy Growth in the third quarter valued at approximately $1,882,000. 3.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 Price Performance

Canopy Growth stock opened at $1.25 on Wednesday. The stock has a market capitalization of $194.27 million, a price-to-earnings ratio of -0.33 and a beta of 0.86. Canopy Growth Co. has a 52-week low of $1.18 and a 52-week high of $14.92. The stock’s 50 day moving average price is $2.16 and its two-hundred day moving average price is $3.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52.

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.