The stock of Canopy Growth Corporation (NASDAQ:CGC) decreased by $0.0 on Monday to finish at $0.40, down -1.24 percent. The last five days have seen an average of 22,722,859 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$1.9123. The average number of shares traded over the last 20 days was 29,070,045, while the average volume over the last 50 days totaled 30,445,016.
CGC stock appreciated 3.54% since last month. On 07/17/23, the company’s shares reached a one-month low of $0.3460. The stock touched a high of $4.77 on 02/02/23, after rallying from a low of $0.35 in 52 weeks. The price of CGC stock has declined by -82.78% or -$1.9123 this year, reaching a new high 12 times. Still, the stock price is down -91.66% from the 52-week high.
Insider Transactions
CGC stock investors should be aware that Canopy Growth Corporation (CGC) stock had its last reported insider trading activity 46 days ago on Jun 30. On Jun 30, Chief Executive Officer Klein David Eric sold 18,775 shares at $0.52 each. This transaction resulted in the insider making $9,763. On Jun 30, Hong Judy Eun Joo sold 1,087 shares at a price of US$0.52. After the transaction, the insider now owns 4,013 shares. Chief Accounting Officer Stewart Thomas Carlton had earlier sold 19,667 shares on Jun 27 for $0.62 a share. The transaction was completed for $12,194.
Financial Health
Based on annual data, it had gross profit of -$78.78 million and revenue of $304.8 million.
Earnings Surprise
According to Canopy Growth Corporation’s quarterly financial report for the quarter that ended June 29, it had $606.77 million in total debt versus $28.96 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $13.55 million, while revenues fell by -594.54% to -$71.63 million. It was predicted that Canopy Growth Corporation’s quarterly earnings would be -$0.05, but it ended up being -$0.13, beating the consensus by 61.50%. EBITDA was -$54.12 million for the quarter. At the end of Canopy Growth Corporation’s most recent quarter ended June 29, its liabilities totaled 998.95 million, while its total debt was $1.05 billion. Equity owned by shareholders amounts to $717.2 million.
Technical Picture
Here’s a quick look at Canopy Growth Corporation’s (CGC) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 38.66%, suggesting the stock is Neutral, with a 75.14% historical volatility rate.
The stochastic %K and %D were 20.27% and 35.81% respectively, while the average true range (ATR) was 0.0478. Based on the 14-day stochastic reading of 11.80%, the RSI (14) reading is 40.60%. On the 9-day MACD Oscillator, the stock is at -0.0294, and the 14-day reading is at -0.0331.
Analyst Ratings
In its most recent analyst report, Bernstein raised its rating on Canopy Growth Corporation (NASDAQ: CGC) to a Mkt perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Canopy Growth Corporation (CGC) an Underweight rating. CGC is a stock that is recommended for selling by 5 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is CGC’s price target for the next 12 months?
The current consensus forecast for the stock is between $0.34 and $2.24, with a median target price of $0.50. In analyzing these forecasts, the average price target given by analysts for Canopy Growth Corporation (CGC) is $0.74.
