Virtu Financial LLC Invests $255,000 in Canopy Growth Corporation $CGC

Key Points

• Virtu Financial LLC has invested approximately $255,000 in Canopy Growth Corporation (NASDAQ:CGC), acquiring 280,143 shares and holding about 0.15% of the company as of the latest quarter.
• Canopy Growth's recent earnings report showed a loss of ($0.14) earnings per share, slightly beating analysts' expectation of ($0.15), but with revenue of $52.98 million falling short of the estimated $64.98 million.
• The company's shares have experienced a decline of 12.8%, with a current trading price of $1.30, down from a 52-week high of $7.12.

Virtu Financial LLC purchased a new position in shares of Canopy Growth Corporation (NASDAQ:CGC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 280,143 shares of the company's stock, valued at approximately $255,000. Virtu Financial LLC owned about 0.15% of Canopy Growth at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP purchased a new stake in Canopy Growth in the fourth quarter valued at $41,000. Two Sigma Securities LLC lifted its position in Canopy Growth by 150.1% in the fourth quarter. Two Sigma Securities LLC now owns 26,517 shares of the company's stock valued at $73,000 after acquiring an additional 15,916 shares during the last quarter. Mackenzie Financial Corp lifted its position in Canopy Growth by 56.5% in the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company's stock valued at $47,000 after acquiring an additional 18,202 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Canopy Growth in the fourth quarter valued at $75,000. Finally, TD Asset Management Inc lifted its position in Canopy Growth by 47.3% in the first quarter. TD Asset Management Inc now owns 112,721 shares of the company's stock valued at $104,000 after acquiring an additional 36,211 shares during the last quarter. 3.33% of the stock is owned by hedge funds and other institutional investors.

Canopy Growth Stock Performance

Shares of NASDAQ:CGC traded up $0.03 on Thursday, reaching $1.24. The company's stock had a trading volume of 15,345,293 shares, compared to its average volume of 21,816,300. The stock's 50-day moving average is $1.22 and its two-hundred day moving average is $1.33. Canopy Growth Corporation has a 52-week low of $0.77 and a 52-week high of $6.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.07 and a quick ratio of 2.12. The stock has a market capitalization of $297.41 million, a P/E ratio of -0.41 and a beta of 0.67.

Canopy Growth (NASDAQ:CGC - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. Canopy Growth had a negative net margin of 155.76% and a negative return on equity of 89.93%. The business had revenue of $52.98 million during the quarter, compared to analysts' expectations of $64.98 million. As a group, sell-side analysts forecast that Canopy Growth Corporation will post -2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

CGC has been the subject of a number of research reports. Piper Sandler reissued an "underweight" rating on shares of Canopy Growth in a research report on Friday, May 30th. Zacks Research raised shares of Canopy Growth to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

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.