Canopy Growth Corporation (NASDAQ:CGC) saw an upside of 12.26% to close Monday at $0.94 after adding $0.1 on the day. The 5-day average trading volume is 77,379,859 shares of the company’s common stock. It has gained $1.2600 in the past week and touched a new high 1 time within the past 5 days. An average of 102,310,672 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 56,869,270.
CGC’s 1-month performance is 142.08% or $0.5529 on its low of $0.3814 reached on 08/29/23. 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 -59.18% or -$1.3671 and has reached a new high 12 times. However, the current price is down -80.23% from the 52-week high price.
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Insider Transactions
CGC stock investors last saw insider trading activity on Sep 01.Lazzarato David Angelo (Director) most recently sold 38,963 shares at $0.71 per share on Sep 01. This transaction cost the insider $27,664. Director, Yanofsky Theresa, sold 38,803 shares at a price of $0.71 on Sep 01. Then, on Sep 01, Director SCHMELING JUDY sold 18,703 shares at a price of $0.71 per share. This transaction amounted to $13,279.
Valuation Metrics
CGC stock has a beta of 1.64. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.30 while the price-to-book (PB) in the most recent quarter is 0.92.
Canopy Growth Corporation’s quick ratio for the period ended June 29 was 1.64, with the current ratio over the same period at 1.96. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.03, while the total debt to equity was 1.34. In terms of profitability, the gross margin trailing 12 months is -10.48%. The trailing 12-month EBITDA margin is -94.53% while for the period ending June 29, Canopy Growth Corporation’s operating margin was -109.31%. 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 June 29 this year, 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. Analysts expected CGC to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.05, representing a 61.50% surprise. EBITDA for the quarter stood at more than -$54.12 million. CGC stock balance sheet for the quarter ending June 29 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 25 September was 51.12% to suggest the stock is trending Neutral, with historical volatility in this time period at 182.94%.
The stock’s 5-day moving average is $0.8904, reflecting a -17.29% or -$0.1971 change from its current price. CGC is currently trading +141.77% above its 20-day SMA, -22.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +145.48% and SMA200 by-73.88%.
Stochastic %K and %D was 20.53% and 23.99% and the average true range (ATR) pointed at 0.2343. The RSI (14) points at 53.33%, while the 14-day stochastic is at 22.32% with the period’s ATR at 0.2082. The stock’s 9-day MACD Oscillator is pointing at -0.1891 and -0.2125 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 $2.22, 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 $0.77.
