In the last trading session, 21.58 million Canopy Growth Corporation (NASDAQ:CGC) shares changed hands as the company’s beta touched 1.60. With the company’s per share price at $0.55 changed hands at $0.02 or 3.52% during last session, the market valuation stood at $455.58M. CGC’s last price was a discount, traded about -767.27% off its 52-week high of $4.77. The share price had its 52-week low at $0.35, which suggests the last value was 36.36% up since then. When we look at Canopy Growth Corporation’s average trading volume, we note the 10-day average is 23.12 million shares, with the 3-month average coming to 52.29 million.
Analysts gave the Canopy Growth Corporation (CGC) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 3.50. If we narrow down to specifics, the data shows that 4 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended CGC as a Hold, 1 felt it is a Buy and 1 rated the stock as Underweight. Canopy Growth Corporation’s EPS for the current quarter is expected to be -$0.05.
Canopy Growth Corporation (NASDAQ:CGC) trade information
Instantly CGC was in green as seen at the end of in last trading. With action 5.47%, the performance over the past five days has been green. The jump to weekly highs of 0.5825 on Friday, 11/17/23 added 3.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -76.21%, with the 5-day performance at 5.47% in the green. However, in the 30-day time frame, Canopy Growth Corporation (NASDAQ:CGC) is 2.04% up. Looking at the short shares, we see there were 37.85 million shares sold at short interest cover period of 1.31 days.
The consensus price target for the stock as assigned by Wall Street analysts is $0.72, meaning bulls need an upside of 23.61% from its current market value. According to analyst projections, CGC’s forecast low is $0.36 with $1.45 as the target high. To hit the forecast high, the stock’s price needs a -163.64% plunge from its current level, while the stock would need to tank 34.55% for it to hit the projected low.
Canopy Growth Corporation (CGC) estimates and forecasts
Data shows that the Canopy Growth Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -49.59% over the past 6 months, a 93.83% in annual growth rate that is considerably higher than the industry average of 14.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Canopy Growth Corporation will rise 87.50%, while the growth in revenue is estimated to hit 95.80% for the next quarter. Year-over-year growth is forecast to reach -18.60% down from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $55.99 million. 9 analysts are of the opinion that Canopy Growth Corporation’s revenue for the quarter ending Mar 2024 will be $54.07 million. The estimates for the next quarter sales put growth at -16.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -76.81%. The 2023 estimates are for Canopy Growth Corporation earnings to increase by 93.77%, but the outlook for the next 5-year period is at 13.28% per year.
Canopy Growth Corporation is expected to release its next quarterly earnings report between February 07 and February 12.