Marathon Trading Investment Management LLC Invests $276,000 in Canopy Growth Corporation $CGC

Key Points

• Marathon Trading Investment Management LLC acquired a new stake in Canopy Growth Corporation, purchasing 303,500 shares valued at approximately $276,000 during the first quarter.
• Following the latest transactions, institutional investors now hold 3.33% of Canopy Growth's stock, with several firms significantly increasing their positions in the company.
• Canopy Growth's stock is currently priced at $1.49 and has shown a potential volatility with a 1-year low of $0.77 and a high of $7.21.

Marathon Trading Investment Management LLC bought a new stake in Canopy Growth Corporation (NASDAQ:CGC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 303,500 shares of the company's stock, valued at approximately $276,000. Marathon Trading Investment Management LLC owned approximately 0.17% of Canopy Growth as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Canopy Growth during the fourth quarter worth $41,000. Two Sigma Securities LLC grew its stake in Canopy Growth by 150.1% during the 4th quarter. Two Sigma Securities LLC now owns 26,517 shares of the company's stock worth $73,000 after buying an additional 15,916 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Canopy Growth during the 4th quarter valued at about $75,000. Centiva Capital LP raised its stake in Canopy Growth by 133.1% in the fourth quarter. Centiva Capital LP now owns 124,155 shares of the company's stock valued at $340,000 after buying an additional 70,884 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings 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 in the last quarter. 3.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler restated an "underweight" rating on shares of Canopy Growth in a report on Friday, May 30th. Zacks Research upgraded shares of Canopy Growth to a "hold" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Canopy Growth currently has a consensus rating of "Sell".

Canopy Growth Stock Performance

Shares of NASDAQ:CGC traded down $0.04 during midday trading on Wednesday, reaching $1.21. The company's stock had a trading volume of 14,689,731 shares, compared to its average volume of 21,673,632. The company has a quick ratio of 2.12, a current ratio of 3.07 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $1.23 and a 200 day moving average of $1.33. Canopy Growth Corporation has a twelve month low of $0.77 and a twelve month high of $6.49. The firm has a market capitalization of $290.22 million, a PE ratio of -0.40 and a beta of 0.67.

Canopy Growth (NASDAQ:CGC - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. The company had revenue of $52.98 million during the quarter, compared to the consensus estimate of $64.98 million. Canopy Growth had a negative net margin of 155.76% and a negative return on equity of 89.93%. On average, equities analysts expect that Canopy Growth Corporation will post -2.81 EPS for the current fiscal year.

Canopy Growth 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.