Canopy Growth Corp (NYSE:CGC) has earned an average rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $57.00.

A number of research firms recently commented on CGC. Piper Jaffray Companies set a $80.00 price target on Canopy Growth and gave the company a “buy” rating in a research report on Friday. Seaport Global Securities reissued a “hold” rating on shares of Canopy Growth in a research report on Tuesday, April 2nd. Zacks Investment Research lowered Canopy Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. TheStreet upgraded Canopy Growth from a “d+” rating to a “c” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group began coverage on Canopy Growth in a research note on Monday, February 25th. They issued a “hold” rating for the company.

A number of large investors have recently made changes to their positions in CGC. Stone House Investment Management LLC bought a new position in Canopy Growth in the 1st quarter valued at $25,000. North Star Investment Management Corp. bought a new position in Canopy Growth in the 4th quarter worth about $26,000. Cypress Capital Management LLC WY bought a new position in Canopy Growth in the 4th quarter worth about $27,000. Next Capital Management LLC bought a new position in Canopy Growth in the 4th quarter worth about $27,000. Finally, Gradient Investments LLC boosted its stake in Canopy Growth by 29.2% in the 4th quarter. Gradient Investments LLC now owns 1,063 shares of the marijuana producer’s stock worth $29,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 8.53% of the company’s stock.

NYSE CGC traded down $1.56 on Wednesday, reaching $40.73. The company had a trading volume of 3,876,551 shares, compared to its average volume of 8,656,792. The firm has a market capitalization of $13.41 billion, a P/E ratio of -127.28 and a beta of 4.22. Canopy Growth has a 52-week low of $20.99 and a 52-week high of $59.25. The company has a current ratio of 17.85, a quick ratio of 17.12 and a debt-to-equity ratio of 0.10.

Canopy Growth (NYSE:CGC) last released its quarterly earnings results on Thursday, February 14th. The marijuana producer reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.52). The company had revenue of $62.85 million during the quarter, compared to analysts’ expectations of $66.09 million. Canopy Growth had a negative net margin of 267.40% and a negative return on equity of 14.39%. As a group, sell-side analysts predict that Canopy Growth will post -1.33 EPS for the current fiscal year.

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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Analyst Recommendations for Canopy Growth (NYSE:CGC)

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