Canopy Growth Corporation (NASDAQ:CGC) saw an upside of 7.04% to close Tuesday at $0.47 after adding $0.03 on the day. The 5-day average trading volume is 21,614,660 shares of the company’s common stock. It has gained $0.4890 in the past week and touched a new high 2 times within the past 5 days. An average of 42,841,887 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 29,525,508.
CGC’s 1-month performance is -2.38% or -$0.0075 on its low of $0.3460 reached on 07/17/23. The company’s shares have touched a 52-week low of $0.35 and high of $4.77, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, CGC has lost -79.72% or -$1.8415 and has reached a new high 12 times. However, the current price is down -90.18% from the 52-week high price.
Insider Transactions
CGC stock investors last saw insider trading activity on Jun 30.Klein David Eric (Chief Executive Officer) most recently sold 18,775 shares at $0.52 per share on Jun 30. This transaction cost the insider $9,763. Chief Financial Officer, Hong Judy Eun Joo, sold 1,087 shares at a price of $0.52 on Jun 30. Then, on Jun 27, Chief Accounting Officer Stewart Thomas Carlton sold 19,667 shares at a price of $0.62 per share. This transaction amounted to $12,194.
Valuation Metrics
CGC stock has a beta of 1.85. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.83 while the price-to-book (PB) in the most recent quarter is 0.32.
The firm’s gross profit as reported stood at -$78.78 million against revenue of $304.8 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Canopy Growth Corporation’s cash and short-term investments amounted to $80.89 million against total debt of $1.42 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 19.25% to -$545.1 million, while revenue of -$200.37 million was 63.24% off the previous quarter. Analysts expected CGC to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.96, representing a -540.00% surprise. EBITDA for the quarter stood at more than -$450.18 million. CGC stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 1.27 billion, with total debt at $1.42 billion. Shareholders hold equity totaling $586.62 million.
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 08 August was 53.17% to suggest the stock is trending Neutral, with historical volatility in this time period at 98.38%.
The stock’s 5-day moving average is $0.4518, reflecting a -0.70% or -$0.0033 change from its current price. CGC is currently trading -15.13% above its 20-day SMA, -76.92% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -46.95% and SMA200 by-80.64%.
Stochastic %K and %D was 50.09% and 52.02% and the average true range (ATR) pointed at 0.0525. The RSI (14) points at 48.16%, while the 14-day stochastic is at 59.83% with the period’s ATR at 0.0589. The stock’s 9-day MACD Oscillator is pointing at -0.0053 and 0.0176 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Canopy Growth Corporation (NASDAQ: CGC), Bernstein upgraded it to a Mkt perform rating. They previously had an Underperform rating on the stock.
What is CGC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $0.34 and a high of $6.66, with their median price target at $0.51. Looking at these predictions, the average price target given by analysts is for Canopy Growth Corporation (CGC) stock is $1.12.
