In the latest trading session, 0.91 million shares of the Canopy Growth Corporation (NASDAQ:CGC) were traded, and its beta was 0.88. Most recently the company’s share price was $4.71, and it changed around -$0.08 or -1.67% from the last close, which brings the market valuation of the company to $399.69M. CGC currently trades at a discount to its 52-week high of $15.68, offering almost -232.91% off that amount. The share price’s 52-week low was $2.76, which indicates that the current value has risen by an impressive 41.4% since then. We note from Canopy Growth Corporation’s average daily trading volume that its 10-day average is 2.92 million shares, with the 3-month average coming to 3.28 million.
Canopy Growth Corporation stock received a consensus recommendation rating of Sell, based on a mean score of 3.45. If we narrow it down even further, the data shows that 3 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended CGC as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Canopy Growth Corporation is expected to report earnings per share of -0.32 for the current quarter.
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Canopy Growth Corporation (NASDAQ:CGC) trade information
Instantly CGC has showed a red trend with a performance of -1.67% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.95 on recent trading dayincreased the stock’s daily price by 4.85%. The company’s shares are currently down -7.83% year-to-date, but still down -2.89% over the last five days. On the other hand, Canopy Growth Corporation (NASDAQ:CGC) is -32.52% down in the 30-day period. We can see from the shorts that 7.73 million shares have been sold at a short interest cover period of 2.57 day(s).
The consensus price target as assigned by Wall Street analysts is $11.02, which translates to bulls needing to increase their stock price by 57.26% from its current value. Analyst projections state that CGC is forecast to be at a low of $8 and a high of $27.85116355.
Canopy Growth Corporation (CGC) estimates and forecasts
Canopy Growth Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 52.92 percent over the past six months and at a 44.69% annual growth rate that is well above the industry average of 14.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 89.90% in revenue this quarter, and will report an increase of 85.40% in the next quarter. The year-over-year growth rate is expected to be -14.20%, down from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 48.63M in revenue for the current quarter. 5 analysts expect Canopy Growth Corporation to make 55.17M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 60.66M and 54.55M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -19.80%. Forecasts for the next quarter put sales growth at 1.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 20.88%. Canopy Growth Corporation earnings are expected to increase by 72.41% in 2024, but the outlook is positive 35.49% per year for the next five years.
CGC Dividends
Canopy Growth Corporation’s next quarterly earnings report is expected to be released on 2024-Nov-12.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.27% of Canopy Growth Corporation shares, and 9.47% of them are in the hands of institutional investors. The stock currently has a share float of 9.50%. Canopy Growth Corporation stock is held by 270.0 institutions, with STRATEGIC INVESTMENT SOLUTIONS, INC. /IL being the largest institutional investor. By 2024-06-30, it held 0.0008% of the shares, which is about 725.0 shares worth $23222.0.
TURIM 21 INVESTIMENTOS LTDA., with 0.0003% or 230.0 shares worth $1484.0 as of 2024-06-30, holds the second largest percentage of outstanding shares.
