Alliance Global Partners started coverage on shares of Canopy Growth (NYSE:CGC) in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating on the marijuana producer’s stock.
A number of other analysts have also weighed in on CGC. Zacks Investment Research raised shares of Canopy Growth from a sell rating to a hold rating in a report on Monday, April 15th. Seaport Global Securities reissued a hold rating on shares of Canopy Growth in a report on Tuesday, April 2nd. Piper Jaffray Companies set a $80.00 price target on shares of Canopy Growth and gave the company a buy rating in a report on Friday, April 12th. Desjardins began coverage on shares of Canopy Growth in a report on Thursday, April 25th. They issued a buy rating for the company. Finally, TheStreet raised shares of Canopy Growth from a d+ rating to a c rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $57.85.
NYSE CGC opened at $45.05 on Monday. The company has a market cap of $15.54 billion, a PE ratio of -140.78 and a beta of 4.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12. Canopy Growth has a 1-year low of $24.21 and a 1-year high of $59.25.
Institutional investors have recently modified their holdings of the stock. Stone House Investment Management LLC bought a new position in Canopy Growth in the first quarter valued at approximately $25,000. Ellis Investment Partners LLC bought a new position in Canopy Growth in the first quarter valued at approximately $25,000. Cypress Capital Management LLC WY bought a new position in Canopy Growth in the fourth quarter valued at approximately $27,000. Next Capital Management LLC bought a new position in Canopy Growth in the fourth quarter valued at approximately $27,000. Finally, Global Retirement Partners LLC boosted its stake in Canopy Growth by 524.0% in the first quarter. Global Retirement Partners LLC now owns 624 shares of the marijuana producer’s stock valued at $27,000 after acquiring an additional 524 shares during the last quarter. 8.05% of the stock is owned by institutional investors and hedge funds.
Canopy Growth Company 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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