Canopy Growth Corporation (NASDAQ:CGC) saw an upside of 0.57% to $13.12 after adding $0.07 on Tuesday. The 5-day average trading volume is 2,596,371 shares of the company’s common stock. It has gained $13.88 in the past week. An average of 3,846,868 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,598,979.
CGC’s 1-month performance is -13.58% or -$1.98 on its low of $12.86 reached on 10/04/21. The company’s shares have touched a 52-week low of $12.86 and high of $56.50, with the stock’s rally to the 52-week high happening on 02/10/21. YTD, CGC has lost -47.04% or -$11.52. However, the current price is down -76.77%% from the 52-week high price.
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On Nov 13, 333 days have gone by since the last insider trading activity for Canopy Growth Corporation (CGC). Kovacevic Rade Nikola (President) most recently sold 4,372 shares at $31.40 per share on Nov 13. This transaction cost the insider $137,281. President, Kovacevic Rade Nikola, sold 86,666 shares at a price of $31.38 on Nov 13. Then, on Nov 12, President Kovacevic Rade Nikola sold 150,000 shares at a price of $31.65 per share. This transaction amounted to $4,747,500.
Canopy Growth Corporation (CGC) has a trailing price-to-earnings (P/E) ratio of 23.00 for the broader industry and 32.25 for the sector.CGC stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.73 while the price-to-book (PB) in the most recent quarter is 1.44.
For the quarterly period ending June 29 this year, Canopy Growth Corporation’s cash and short-term investments amounted to $1.14 billion against total debt of $1.69 billion. Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected CGC to announce -$0.21 per share in earnings in its latest quarter, but it posted $0.67, representing a 419.00% surprise. EBITDA for the quarter stood at more than -$132.37 million. CGC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.3 billion, with total debt at $1.69 billion
Let’s look briefly at Canopy Growth Corporation (CGC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 37.27% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.76%.
The stock’s 5-day moving average is $13.22, reflecting a -1.94% or -$0.26 change from its current price. CGC is currently trading -10.32% above its 20-day SMA, -42.78% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -30.21% and -49.27% respectively.
Stochastic %K and %D was 12.74% and 17.51% and the average true range (ATR) pointed at 0.61. The RSI (14) points at 36.06%, while the 14-day stochastic is at 12.26% with the period’s ATR at 0.65. The stock’s 9-day MACD Oscillator is pointing at -0.17 and -0.50 on the 14-day charts.
In the most recent analyst report for Canopy Growth Corporation (NASDAQ: CGC), BofA Securities downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for CGC stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate CGC as a “sell,”, while 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.
What is CGC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $11.76 and a high of $40.55, with their median price target at $19.72. Looking at these predictions, the average price target given by analysts is for Canopy Growth Corporation (CGC) stock is $19.94.