Canopy Growth Corporation (NASDAQ:CGC) finished Thursday with a subtraction of -$0.03 to close at $0.39, a downside of -6.80 percent. An average of 17,839,461 shares of common stock have been traded in the last five days. There was a fall of -$0.0226 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 23,012,096 shares traded, while the 50-day average volume stands at 31,329,572.
CGC stock has decreased by -2.99% in the last month. The company shares reached their 1-month lowest point of $0.3800 on 08/14/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $0.35 and a high of $4.77 in 52 weeks. It has reached a new high 12 times so far this year and lost -83.14% or -$1.9205 in price. In spite of this, the price is down -91.83% 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 56 days ago on Jun 30. In this transaction, the insider spent $9,763. Chief Financial Officer, Hong Judy Eun Joo, disposed of 1,087 shares at a price of $0.52 on Jun 30. The insider now owns more than $565 worth of shares. Prior to that, Chief Accounting Officer Stewart Thomas Carlton went on to Sale 19,667 shares at $0.62 each on Jun 27. An amount of $12,194 was transacted.
Financial Health
Canopy Growth Corporation’s EBITDA margin for the year ending June 29 is -94.53%. Its gross profit as reported stood at -$78.78 million compared to revenue of $304.8 million.
Earnings Surprise
For the three-month period that ended June 29, Canopy Growth Corporation had $606.77 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$29.2 million in the quarter, while revenues of -$545.1 million were shrunk -5364.69%. The analyst consensus anticipated Canopy Growth Corporation’s latest quarter earnings to come in at -$0.13 per share, but it turned out to be -$0.05, a 61.50% surprise. For the quarter, EBITDA amounted to -$54.12 million. Shareholders own equity worth $717.2 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Canopy Growth Corporation (CGC) price momentum. RSI 9-day as of the close on 24 August was 41.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 102.89%.
As of today, CGC’s price is $0.4171 -5.48% or -$0.0226 from its 5-day moving average. CGC is currently trading -5.00% lower than its 20-day SMA and -77.74% lower than its 100-day SMA. However, the stock’s current price level is -44.75% below the SMA50 and -88.16% below the SMA200.
The stochastic %K and %D were 22.48% and 31.51%, respectively, and the average true range (ATR) was 0.0411. With the 14-day stochastic at 9.49% and the average true range at 0.0465, the RSI (14) stands at 42.61%. The stock has reached -0.0041 on the 9-day MACD Oscillator while the 14-day reading was at -0.0163.
Analyst Ratings
Bernstein upgraded Canopy Growth Corporation (NASDAQ: CGC) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for Canopy Growth Corporation (CGC) among analysts is Underweight. According to current brokerage recommendations, 5 brokerage firms advise that investors sell CGC, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is CGC’s price target for the next 12 months?
Analysts predict a range of price targets between $0.34 and $2.24, with a median target of $0.50. Taking a look at these predictions, the average price target given by analysts for Canopy Growth Corporation (CGC) stock is $0.74.
