Bluestein R H & Co. Acquires 600 Shares of Canopy Growth Corp (CGC)

Bluestein R H & Co. lifted its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,600 shares of the marijuana producer’s stock after buying an additional 600 shares during the period. Bluestein R H & Co.’s holdings in Canopy Growth were worth $373,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CGC. Stone House Investment Management LLC bought a new position in Canopy Growth in the 1st quarter worth about $25,000. Ellis Investment Partners LLC bought a new position in Canopy Growth in the 1st quarter worth about $25,000. Cypress Capital Management LLC WY acquired a new stake in shares of Canopy Growth in the 4th quarter worth approximately $27,000. Next Capital Management LLC acquired a new stake in shares of Canopy Growth in the 4th quarter worth approximately $27,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Canopy Growth by 524.0% in the 1st quarter. Global Retirement Partners LLC now owns 624 shares of the marijuana producer’s stock worth $27,000 after acquiring an additional 524 shares during the period. 8.05% of the stock is owned by institutional investors and hedge funds.

Shares of Canopy Growth stock opened at $45.05 on Friday. The company has a quick ratio of 17.12, a current ratio of 17.85 and a debt-to-equity ratio of 0.10. Canopy Growth Corp has a fifty-two week low of $24.21 and a fifty-two week high of $59.25. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of -140.78 and a beta of 4.17.

Canopy Growth (NYSE:CGC) last issued its quarterly earnings results on Thursday, February 14th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.52). Canopy Growth had a negative net margin of 267.40% and a negative return on equity of 14.39%. The company had revenue of $62.85 million during the quarter, compared to the consensus estimate of $66.09 million. On average, equities research analysts expect that Canopy Growth Corp will post -1.08 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Piper Jaffray Companies set a $60.00 price target on shares of Canopy Growth and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Desjardins assumed coverage on shares of Canopy Growth in a research note on Thursday, April 25th. They issued a “buy” rating for the company. GMP Securities lowered shares of Canopy Growth from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Alliance Global Partners initiated coverage on shares of Canopy Growth in a research note on Monday. They set a “buy” rating for the company. Finally, Zacks Investment Research raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.85.

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Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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