In last trading session, Canopy Growth Corporation (NASDAQ:CGC) saw 17.69 million shares changing hands with its beta currently measuring 1.21. Company’s recent per share price level of $4.54 trading at $0.71 or 18.54% at ring of the bell on the day assigns it a market valuation of $413.64M. That closing price of CGC’s stock is at a discount of -344.93% from its 52-week high price of $20.20 and is indicating a premium of 39.21% from its 52-week low price of $2.76. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.23 million shares which gives us an average trading volume of 3.42 million if we extend that period to 3-months.
Canopy Growth Corporation (NASDAQ:CGC) trade information
Upright in the green during last session for gaining 18.54%, in the last five days CGC remained trading in the green while hitting it’s week-highest on Wednesday, 03/20/24 when the stock touched $4.54 price level, adding 0.66% to its value on the day. Canopy Growth Corporation’s shares saw a change of -11.15% in year-to-date performance and have moved 53.38% in past 5-day. Canopy Growth Corporation (NASDAQ:CGC) showed a performance of 28.25% in past 30-days. Number of shares sold short was 4.6 million shares which calculate 1.41 days to cover the short interests.
Canopy Growth Corporation (CGC) estimates and forecasts
Statistics highlight that Canopy Growth Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -55.92% of value to its shares in past 6 months, showing an annual growth rate of 89.59% while that of industry is 18.50. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 96.50% in the current quarter and calculating 44.20% increase in the next quarter. This year revenue growth is estimated to fall -19.50% from the last financial year’s standing.
9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $53.13 million for the same. And 7 analysts are in estimates of company making revenue of $54.72 million in the next quarter that will end on Jun 2024. Company posted $64.64 million and $66.99 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -17.80% while estimating it to be -18.30% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -76.81% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 90.94% while estimates for its earnings growth in next 5 years are of 13.28%.
CGC Dividends
Canopy Growth Corporation is more likely to be releasing its next quarterly report on February 09 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
Insiders are in possession of 19.04% of company’s total shares while institution are holding 4.91 percent of that, with stock having share float percentage of 6.07%. Investors also watch the number of corporate investors in a company very closely, which is 4.91% institutions for Canopy Growth Corporation that are currently holding shares of the company. Luxor Capital Group, LP is the top institutional holder at CGC for having 16.55 million shares of worth $6.42 million. And as of Jun 29, 2023, it was holding 2.26% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 10.97 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 1.50% of outstanding shares, having a total worth of $4.26 million.
On the other hand, ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 11.0 million shares of worth $4.27 million or 1.50% of the total outstanding shares. The later fund manager was in possession of 3.54 million shares on Sep 29, 2023, making its stake of worth around $2.77 million in the company or a holder of 0.48% of company’s stock.
