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.
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.
