Canopy Growth (NYSE:CGC) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, June 20th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter.
CGC opened at $42.84 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 17.12 and a current ratio of 17.85. Canopy Growth has a one year low of $24.21 and a one year high of $59.25. The stock has a market cap of $14.53 billion, a PE ratio of -133.88 and a beta of 4.13.
CGC has been the topic of a number of research analyst reports. Bank of America set a $80.00 target price on Canopy Growth and gave the stock a “buy” rating in a research report on Friday, June 7th. Stifel Nicolaus initiated coverage on Canopy Growth in a research report on Wednesday, June 5th. They set a “buy” rating and a $40.83 target price on the stock. Alliance Global Partners initiated coverage on Canopy Growth in a research report on Monday, May 13th. They set a “buy” rating on the stock. Desjardins initiated coverage on Canopy Growth in a research report on Thursday, April 25th. They set a “buy” rating on the stock. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Canopy Growth in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Canopy Growth has a consensus rating of “Buy” and an average price target of $62.38.
A hedge fund recently bought a new stake in Canopy Growth stock. Geode Capital Management LLC purchased a new stake in Canopy Growth Corp (NYSE:CGC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 29,528 shares of the marijuana producer’s stock, valued at approximately $791,000. 8.03% of the stock is currently owned by hedge funds and other institutional investors.
About Canopy Growth
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, CraftGrow, and Foria brand names.
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