Canopy Growth Corporation $CGC Shares Purchased by Sullivan Wood Capital Management LLC

Sullivan Wood Capital Management LLC boosted its position in shares of Canopy Growth Corporation (NASDAQ:CGC) by 212.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772,785 shares of the company’s stock after purchasing an additional 525,500 shares during the period. Canopy Growth makes up 1.3% of Sullivan Wood Capital Management LLC’s holdings, making the stock its 15th biggest holding. Sullivan Wood Capital Management LLC’s holdings in Canopy Growth were worth $881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CGC. Boothbay Fund Management LLC purchased a new stake in shares of Canopy Growth in the 2nd quarter valued at approximately $30,000. Midwest Trust Co purchased a new stake in shares of Canopy Growth during the 3rd quarter valued at approximately $31,000. Genesee Capital Advisors LLC raised its position in shares of Canopy Growth by 166.1% during the 3rd quarter. Genesee Capital Advisors LLC now owns 40,047 shares of the company’s stock valued at $58,000 after buying an additional 25,000 shares during the period. Insigneo Advisory Services LLC lifted its holdings in Canopy Growth by 168.7% in the third quarter. Insigneo Advisory Services LLC now owns 43,001 shares of the company’s stock valued at $63,000 after acquiring an additional 27,000 shares during the last quarter. Finally, Sender Co & Partners Inc. acquired a new position in Canopy Growth in the third quarter valued at approximately $63,000. 3.33% of the stock is currently owned by institutional investors and hedge funds.

Canopy Growth Stock Performance

NASDAQ:CGC opened at $1.00 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.26 and a current ratio of 5.34. The stock has a market capitalization of $404.12 million, a P/E ratio of -0.77 and a beta of 0.60. The company has a 50 day moving average price of $1.06 and a 200 day moving average price of $1.21. Canopy Growth Corporation has a fifty-two week low of $0.77 and a fifty-two week high of $2.38.

Canopy Growth (NASDAQ:CGC) last posted its earnings results on Friday, February 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $90.39 million during the quarter, compared to analyst estimates of $70.96 million. Canopy Growth had a negative net margin of 94.39% and a negative return on equity of 46.85%. Equities research analysts forecast that Canopy Growth Corporation will post -2.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CGC. Wall Street Zen cut Canopy Growth from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Canopy Growth in a research note on Saturday, February 7th. ATB Cormark Capital Markets upgraded Canopy Growth from a “strong sell” rating to a “moderate buy” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Canopy Growth in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group assumed coverage on shares of Canopy Growth in a report on Friday, March 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Canopy Growth presently has a consensus rating of “Hold”.

Canopy Growth Profile

Canopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.

The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.