Canopy Growth Corporation (NASDAQ:CGC)’s traded shares stood at 48.67 million during the last session, with the company’s beta value hitting 1.41. At the close of trading, the stock’s price was $8.63, to imply a decrease of -9.63% or -$0.92 in intraday trading. The CGC share’s 52-week high remains $19.20, putting it -122.48% down since that peak but still an impressive 68.02% since price per share fell to its 52-week low of $2.76. The company has a valuation of $786.28M, with an average of 32.95 million shares in intraday trading volume over the past 10 days and average of 6.96 million shares over the past 3 months.
Canopy Growth Corporation (NASDAQ:CGC) trade information
After registering a -9.63% downside in the last session, Canopy Growth Corporation (CGC) has traded red over the past five days. The stock hit a weekly high of 10.13, dropping -9.63% in its intraday price action. The 5-day price performance for the stock is 89.25%, and 156.85% over 30 days. With these gigs, the year-to-date price performance is 68.88%. Short interest in Canopy Growth Corporation (NASDAQ:CGC) saw shorts transact 5.29 million shares and set a 2.03 days time to cover.
Canopy Growth Corporation (CGC) estimates and forecasts
Looking at statistics comparing Canopy Growth Corporation share performance against respective industry, we note that the company has outperformed competitors. Canopy Growth Corporation (CGC) shares are -3.03% down over the last 6 months, with its year-to-date growth rate higher than industry average at 89.59% against 16.40%. Revenue is forecast to grow 96.60% this quarter before jumping 44.20% for the next one. The rating firms project that company’s revenue will shrink -19.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 9 analysts is $52.96 million. Meanwhile, for the quarter ending Jun 2024, a total of 7 analyst(s) estimate revenue growth to $54.56 million.Earnings reports from the last fiscal year show that sales brought in $64.64 million and $66.99 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -18.10% before dropping -18.60% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -76.81% for the past 5-year period. While 2024 is set for a 90.94% return in earnings, projections for the next 5 years are at 13.28% annually.
CGC Dividends
Canopy Growth Corporation has its next earnings report out between June 20 and June 24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Canopy Growth Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
Canopy Growth Corporation insiders hold 19.04% of total outstanding shares, with institutional holders owning 4.90% of the shares at 6.05% float percentage. In total, 4.90% institutions holds shares in the company, led by Luxor Capital Group, LP. As of Jun 29, 2023, the company held over 16.55 million shares (or 2.26% of shares), all amounting to roughly $6.42 million.
The next major institution holding the largest number of shares is Vanguard Group Inc with 10.97 million shares, or about 1.50% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $4.26 million.
We also have ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF as the top two Mutual Funds with the largest holdings of the Canopy Growth Corporation (CGC) shares. Going by data provided on Jun 29, 2023, ETF Managers Tr-EFTMG Alternative Harvest ETF holds roughly 11.0 million shares. This is just over 1.50% of the total shares, with a market valuation of $4.27 million. Data from the same date shows that the other fund manager holds a little less at 3.54 million, or 0.48% of the shares, all valued at about 2.77 million.
