As of Friday close, Canopy Growth Corporation’s (NASDAQ:CGC) stock was down -$0.01, moving down -3.47 percent to $0.45. The average number of shares traded per day over the past five days has been 29,394,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0272 fall in that time frame. In the last twenty days, the average volume was 45,131,176, while in the previous 50 days, it was 29,291,027.
Since last month, CGC stock rose 5.30%. Shares of the company fell to $0.3460 on 07/17/23, the lowest level in the past month. A 52-week high of $4.77 was reached on 02/02/23 after having rallying from a 52-week low of $0.35. Since the beginning of this year, CGC’s stock price has dropped by -80.64% or -$1.8627, and marked a new high 12 times. However, the stock has declined by -90.62% since its 52-week high.
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Sponsored
CGC stock investors should be aware that Canopy Growth Corporation (CGC) stock had its last reported insider trading activity 36 days ago on Jun 30. Klein David Eric, the Chief Executive Officer of the company, disposed of 18,775 shares for $0.52 on Jun 30. It resulted in a $9,763 divestment by the insider. Hong Judy Eun Joo sold 1,087 shares at an average price of $0.52 on Jun 30. The insider now owns 4,013 shares following the transaction. On Jun 27, Chief Accounting Officer Stewart Thomas Carlton sold 19,667 shares at $0.62 apiece. The transaction was valued at $12,194.
Valuation Metrics
The stock’s beta is 1.84. Besides these, the trailing price-to-sales (P/S) ratio of 0.80, the price-to-book (PB) ratio of 0.31.
Financial Health
Based on annual data, CGC earned -$78.78 million in gross profit and brought in $304.8 million in revenue.
In Canopy Growth Corporation’s quarter-end financial report for March 30, it reported total debt of $574.49 million against cash and short-term investments of $80.89 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CGC’s revenue rose 234.87% to $7.43 million during the quarter, while net income inched up to -$71.63 million. While analysts expected Canopy Growth Corporation to report -$0.15 quarterly earnings, the actual figure was -$0.96 per share. During the quarter, the company generated -$450.18 million in EBITDA. The liabilities of Canopy Growth Corporation were 1.27 billion at the end of its most recent quarter ended March 30, and its total debt was $1.42 billion. The value of shareholders’ equity is $586.62 million.
Technical Picture
This quick technical analysis looks at Canopy Growth Corporation’s (CGC) price momentum. With a historical volatility rate of 94.48%, the RSI 9-day stood at 48.58% on 04 August.
With respect to its five-day moving average, the current Canopy Growth Corporation price is down by -5.73% percent or -$0.0272. At present, CGC shares trade -6.03% below its 20-day simple moving average and -77.97% percent below its 100-day simple moving average. However, the stock is currently trading approximately -58.20% below its SMA50 and -82.32% below its SMA200.
Stochastic coefficient K was 54.55% and Stochastic coefficient D was 49.46%, while ATR was 0.0542. Given the Stochastic reading of 50.72% for the 14-day period, the RSI (14) reading has been calculated as 45.38%.
Analyst Ratings
Bernstein upgraded its rating on Canopy Growth Corporation (NASDAQ: CGC) to a Mkt perform in a note to investors on April 04, 2023. The analysts firm previously had an Underperform rating on the stock.Canopy Growth Corporation (CGC) has been rated Underweight by analysts. According to 6 brokerage firms, CGC is a sell, and 8 firms recommend it is a Hold. There are 1 analyst 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 $0.51, the current consensus forecast for the stock is $0.34 – $6.66. Based on these forecasts, analysts predict Canopy Growth Corporation (CGC) will achieve an average price target of $1.12.
