Canopy Growth Corporation (NASDAQ:CGC)’s traded shares stood at 2.58 million during the latest session, with the company’s beta value hitting 0.88. At the last check today, the stock’s price was $5.20, to imply an increase of 3.21% or $0.16 in intraday trading. The CGC share’s 52-week high remains $14.92, putting it -186.92% down since that peak but still an impressive 46.92% since price per share fell to its 52-week low of $2.76. The company has a valuation of $441.44M, with an average of 5.44 million shares in intraday trading volume over the past 10 days and average of 3.69 million shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for Canopy Growth Corporation (CGC), translating to a mean rating of 3.45. Of 4 analyst(s) looking at the stock, 1 analyst(s) give CGC a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 1 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.27.
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Canopy Growth Corporation (NASDAQ:CGC) trade information
After registering a 3.21% upside in the latest session, Canopy Growth Corporation (CGC) has traded red over the past five days. The 5-day price performance for the stock is 20.70%, and 17.96% over 30 days. With these gigs, the year-to-date price performance is 1.80%. Short interest in Canopy Growth Corporation (NASDAQ:CGC) saw shorts transact 7.96 million shares and set a 2.45 days time to cover.
The extremes give us $8 and $27.85116355 for target low and target high price respectively. As such, CGC has been trading -435.6% off suggested target high and -53.85% from its likely low.
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 -40.21% down over the last 6 months, with its year-to-date growth rate higher than industry average at 44.69% against 11.50%. Revenue is forecast to grow 91.50% this quarter before jumping 87.00% for the next one. The rating firms project that company’s revenue will shrink -16.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 5 analysts is 47.58M. Meanwhile, for the current quarter, a total of 5 analyst(s) estimate revenue growth to 54.01M.Earnings reports from the last fiscal year show that sales brought in 60.66M and 54.55M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -21.60% before dropping -1.00% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 20.88% for the past 5-year period. While 2024 is set for a 68.73% return in earnings, projections for the next 5 years are at 35.49% annually.
CGC Dividends
Canopy Growth Corporation has its next earnings report out on 2024-Nov-12. 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 (NASDAQ:CGC)’s Major holders
Canopy Growth Corporation insiders hold 0.20% of total outstanding shares, with institutional holders owning 8.84% of the shares at 8.86% float percentage. In total, 8.84% institutions holds shares in the company, led by STRATEGIC INVESTMENT SOLUTIONS, INC. /IL. As of 2024-06-30, the company held over 725.0 shares (or 0.0008% of shares), all amounting to roughly $23222.0.
The next major institution holding the largest number of shares is TURIM 21 INVESTIMENTOS LTDA. with 230.0 shares, or about 0.0003% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $1484.0.
We also have Amplify ETF Tr-Amplify Alternative Harvest ETF and AdvisorShares Trust-AdvisorShares Pure 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 30, 2024, Amplify ETF Tr-Amplify Alternative Harvest ETF holds roughly 2.15 shares. This is just over 2.29% of the total shares, with a market valuation of $11.14 million. Data from the same date shows that the other fund manager holds a little less at 90.92, or 0.10% of the shares, all valued at about 0.47 million.
