Canopy Growth Corporation (NASDAQ:CGC) saw a downside of -10.18% to close Monday at $0.41 after subtracting -$0.05 on the day. The 5-day average trading volume is 20,273,820 shares of the company’s common stock. It has gained $0.4674 in the past week and touched a new high 5 times within the past 5 days. An average of 26,833,750 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 31,472,018.
CGC’s 1-month performance is 7.19% or $0.0278 on its low of $0.3800 reached on 08/14/23. 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 -82.06% or -$1.8955 and has reached a new high 12 times. However, the current price is down -91.31% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
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 1.82.
The trailing 12-month EBITDA margin is -94.53%. The firm’s gross profit as reported stood at -$78.78 million against revenue of $304.8 million.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -5364.69% to -$29.2 million, while revenue of -$545.1 million was -1766.78% off the previous quarter. EBITDA for the quarter stood at more than -$54.12 million. CGC stock balance sheet for the recent quarter shows that total liabilities totaled 998.95 million, with total debt at $1.13 billion. Shareholders hold equity totaling $717.2 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 21 August was 46.49% to suggest the stock is trending Neutral, with historical volatility in this time period at 105.57%.
The stock’s 5-day moving average is $0.4115, reflecting a +4.22% or $0.0168 change from its current price. CGC is currently trading +5.02% above its 20-day SMA, -77.10% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -40.27% and SMA200 by-88.12%.
Stochastic %K and %D was 42.61% and 28.24% and the average true range (ATR) pointed at 0.0460. The RSI (14) points at 45.12%, while the 14-day stochastic is at 31.65% with the period’s ATR at 0.0507. The stock’s 9-day MACD Oscillator is pointing at 0.0120 and -0.0003 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. Analysts offering their rating for CGC stock have a consensus rating for the stock as Underweight. Currently, 5 brokerage advisors rate CGC as a “sell,”, while 8 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 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 $0.34 and a high of $2.24, with their median price target at $0.50. Looking at these predictions, the average price target given by analysts is for Canopy Growth Corporation (CGC) stock is $0.74.
