How Is Canopy Growth Corporation (CGC)’s Price-To-Earnings Ratio?


As of Wednesday close, Canopy Growth Corporation’s (NASDAQ:CGC) stock was up $0.02, moving up 0.57 percent to $3.50. The average number of shares traded per day over the past five days has been 11,783,040 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.56 fall in that time frame. In the last twenty days, the average volume was 17,432,395, while in the previous 50 days, it was 15,420,472.

Since last month, CGC stock rose 20.27%. Shares of the company fell to $2.23 on 10/24/22, the lowest level in the past month. A 52-week high of $12.09 was reached on 01/03/22 after having rallying from a 52-week low of $2.13. Since the beginning of this year, CGC’s stock price has dropped by -59.91% or -$5.23, and marked a new high 1 time. However, the stock has declined by -71.05% since its 52-week high.

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CGC stock investors should be aware that Canopy Growth Corporation (CGC) stock had its last reported insider trading activity 169 days ago on Jun 09. Hong Judy Eun Joo, the Chief Financial Officer of the company, disposed of 1,021 shares for $4.98 on Jun 09. It resulted in a $5,085 divestment by the insider. Stewart Thomas Carlton sold 281 shares at an average price of $4.98 on Jun 09. The insider now owns 18,188 shares following the transaction.

Financial Health

Based on annual data, CGC earned -$154.02 million in gross profit and brought in $415.12 million in revenue.

In Canopy Growth Corporation’s quarter-end financial report for September 29, it reported total debt of $790.61 million against cash and short-term investments of $303.87 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CGC’s revenue fell -792.56% to $94.11 million during the quarter, while net income inched up to $12.5 million. While analysts expected Canopy Growth Corporation to report -$0.2 quarterly earnings, the actual figure was -$0.35 per share, beating the consensus estimate by -75.00%. During the quarter, the company generated -$118.79 million in EBITDA. The liabilities of Canopy Growth Corporation were 1.36 billion at the end of its most recent quarter ended September 29, and its total debt was $1.48 billion. The value of shareholders’ equity is $485.93 million.

Technical Picture

This quick technical analysis looks at Canopy Growth Corporation’s (CGC) price momentum. With a historical volatility rate of 86.41%, the RSI 9-day stood at 46.54% on 23 November.

With respect to its five-day moving average, the current Canopy Growth Corporation price is down by -13.79% percent or -$0.56. At present, CGC shares trade +10.41% above its 20-day simple moving average and +29.15% percent above its 100-day simple moving average. However, the stock is currently trading approximately +0.57% above its SMA50 and -54.49% below its SMA200.

Stochastic coefficient K was 35.24% and Stochastic coefficient D was 42.20%, while ATR was 0.36. Given the Stochastic reading of 32.92% for the 14-day period, the RSI (14) reading has been calculated as 50.80%. As of today, the MACD Oscillator reading stands at -0.36, while the 14-day reading stands at -0.16.

Analyst Ratings

Bernstein launched its rating on Canopy Growth Corporation (NASDAQ: CGC) to an Underperform in a note to investors on November 02, 2022. Canopy Growth Corporation (CGC) has been rated Underweight by analysts. According to 7 brokerage firms, CGC is a sell, and 8 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 0 analysts rate Canopy Growth Corporation stock as buy, with 1 recommending it as overweight.

With a median target price of $2.45, the current consensus forecast for the stock is $1.56 – $3.71. Based on these forecasts, analysts predict Canopy Growth Corporation (CGC) will achieve an average price target of $2.59.


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