TD Asset Management Inc Buys 36,211 Shares of Canopy Growth Corporation (NASDAQ:CGC)

TD Asset Management Inc raised its stake in shares of Canopy Growth Corporation (NASDAQ:CGC) by 47.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,721 shares of the company’s stock after buying an additional 36,211 shares during the period. TD Asset Management Inc owned about 0.06% of Canopy Growth worth $104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its position in Canopy Growth by 12.5% in the fourth quarter. Tidal Investments LLC now owns 2,263,873 shares of the company’s stock worth $6,203,000 after acquiring an additional 251,659 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Canopy Growth by 68.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 360,738 shares of the company’s stock worth $328,000 after purchasing an additional 146,488 shares in the last quarter. Centiva Capital LP raised its holdings in Canopy Growth by 133.1% in the 4th quarter. Centiva Capital LP now owns 124,155 shares of the company’s stock worth $340,000 after purchasing an additional 70,884 shares during the period. OLD Mission Capital LLC lifted its position in Canopy Growth by 41.6% during the fourth quarter. OLD Mission Capital LLC now owns 51,066 shares of the company’s stock valued at $140,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Canopy Growth during the fourth quarter valued at about $75,000. 3.33% of the stock is currently owned by hedge funds and other institutional investors.

Canopy Growth Trading Down 1.8%

Shares of CGC stock opened at $1.08 on Wednesday. The company has a market cap of $221.56 million, a PE ratio of -0.27 and a beta of 0.67. Canopy Growth Corporation has a 1 year low of $0.77 and a 1 year high of $7.21. The stock’s 50 day simple moving average is $1.26 and its two-hundred day simple moving average is $1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.12 and a quick ratio of 2.10.

Canopy Growth (NASDAQ:CGC) last released its earnings results on Friday, May 30th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.66). The company had revenue of $45.30 million for the quarter, compared to the consensus estimate of $71.84 million. Canopy Growth had a negative net margin of 195.76% and a negative return on equity of 88.54%. Research analysts predict that Canopy Growth Corporation will post -2.81 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed an “underweight” rating on shares of Canopy Growth in a research note on Friday, May 30th.

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.