Canopy Growth Co. (NASDAQ:CGC) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its position in Canopy Growth Co. (NASDAQ:CGC) by 90.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,555 shares of the company’s stock after selling 121,995 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Canopy Growth were worth $69,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CGC. Vanguard Personalized Indexing Management LLC increased its holdings in Canopy Growth by 197.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company’s stock worth $34,000 after acquiring an additional 28,666 shares in the last quarter. Sycomore Asset Management acquired a new position in Canopy Growth in the 3rd quarter valued at $39,000. Redmont Wealth Advisors LLC purchased a new position in Canopy Growth in the 3rd quarter valued at $39,000. Genesee Capital Advisors LLC acquired a new stake in Canopy Growth during the 3rd quarter worth $40,000. Finally, Lake Street Financial LLC grew its holdings in shares of Canopy Growth by 43.7% during the third quarter. Lake Street Financial LLC now owns 77,400 shares of the company’s stock worth $63,000 after buying an additional 23,550 shares in the last quarter. 3.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Canopy Growth to $5.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Piper Sandler dropped their target price on Canopy Growth from $5.00 to $3.00 and set an “underperform” rating for the company in a report on Monday, February 12th.

Canopy Growth Stock Down 6.6 %

Canopy Growth stock opened at $8.32 on Tuesday. Canopy Growth Co. has a fifty-two week low of $2.76 and a fifty-two week high of $19.20. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.40 and a current ratio of 1.79. The firm has a 50 day moving average price of $6.07 and a 200 day moving average price of $5.51. The company has a market capitalization of $833.89 million, a PE ratio of -0.55 and a beta of 1.37.

Canopy Growth (NASDAQ:CGC) last announced its earnings results on Friday, February 9th. The company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($1.34). The firm had revenue of $57.67 million for the quarter, compared to analysts’ expectations of $53.25 million. Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%. Research analysts expect that Canopy Growth Co. will post -6.14 earnings per share for the current year.

About Canopy Growth

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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.