In the latest trading session, 1.4 million Canopy Growth Corporation (NASDAQ:CGC) shares changed hands as the company’s beta touched 0.90. With the company’s most recent per share price at $6.62 changed hands at -$0.42 or -5.97% at last look, the market valuation stands at $561.77M. CGC’s current price is a discount, trading about -190.03% off its 52-week high of $19.20. The share price had its 52-week low at $2.76, which suggests the last value was 58.31% up since then. When we look at Canopy Growth Corporation’s average trading volume, we note the 10-day average is 3.07 million shares, with the 3-month average coming to 4.38 million.
Analysts gave the Canopy Growth Corporation (CGC) stock a consensus recommendation rating of Hold, calculated at a mean rating of 3.45. If we narrow down to specifics, the data shows that 1 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CGC as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Canopy Growth Corporation’s EPS for the current quarter is expected to be -0.34.
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Canopy Growth Corporation (NASDAQ:CGC) trade information
Instantly CGC was in red as seen in intraday trades today. With action 4.33%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 29.55%, with the 5-day performance at 4.33% in the green. However, in the 30-day time frame, Canopy Growth Corporation (NASDAQ:CGC) is -7.15% down. Looking at the short shares, we see there were 8.5 million shares sold at short interest cover period of 2.13 days.
The consensus price target for the stock as assigned by Wall Street analysts is 11.02, meaning bulls need an upside of 39.93% from its recent market value. According to analyst projections, CGC’s forecast low is 8 with 27.85116355 as the target high. To hit the forecast high, the stock’s price needs a -320.71% plunge from its current level, while the stock would need to soar -20.85% 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 73.30% over the past 6 months, a 70.62% in annual growth rate that is considerably higher than the industry average of 15.70%. Year-over-year growth is forecast to reach -14.80% down from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of 47.94M. 6 analysts are of the opinion that Canopy Growth Corporation’s revenue for the current quarter will be 54.73M. The company’s revenue for the corresponding quarters a year ago was 60.66M and 54.55M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -21.00%. The estimates for the next quarter sales put growth at 0.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.88%. The 2024 estimates are for Canopy Growth Corporation earnings to increase by 75.40%, but the outlook for the next 5-year period is at 34.87% per year.
CGC Dividends
Canopy Growth Corporation is expected to release its next quarterly earnings report on 2024-Nov-12.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.31% of Canopy Growth Corporation shares while 10.17% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.20%. There are 10.17% institutions holding the Canopy Growth Corporation stock share, with B. RILEY WEALTH ADVISORS, INC. the top institutional holder. As of 2024-03-31, the company held 0.0664% of the shares, roughly 55020.0 CGC shares worth $43070.0.
TURIM 21 INVESTIMENTOS LTDA. holds the second largest percentage of outstanding shares, with 0.0003% or 230.0 shares worth $1985.0 as of 2024-03-31.
Among Mutual Funds, the top two as of Mar 31, 2024 were Amplify ETF Tr-Amplify Alternative Harvest ETF and AdvisorShares Trust-AdvisorShares Pure Cannabis ETF. With 2.52 shares estimated at $16.72 million under it, the former controlled 2.97% of total outstanding shares. On the other hand, AdvisorShares Trust-AdvisorShares Pure Cannabis ETF held about 0.08% of the shares, roughly 68.92 shares worth around $0.46 million.
