During the recent session, Canopy Growth Corporation (NASDAQ:CGC)’s traded shares were 2.05 million, with the beta value of the company hitting 0.88. At the last check today, the stock’s price was $4.90, reflecting an intraday gain of 6.78% or $0.31. The 52-week high for the CGC share is $14.92, that puts it down -204.49 from that peak though still a striking 43.67% gain since the share price plummeted to a 52-week low of $2.76. The company’s market capitalization is $758.20M, and the average intraday trading volume over the past 10 days was 8.23 million shares, and the average trade volume was 4.06 million shares over the past three months.
Canopy Growth Corporation (CGC) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3.45. CGC has a Sell rating from 1 analyst(s) out of 4 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.27.
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Canopy Growth Corporation (NASDAQ:CGC) trade information
Canopy Growth Corporation (CGC) registered a 6.78% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.78% in intraday trading to $4.90, hitting a weekly high. The stock’s 5-day price performance is -9.90%, and it has moved by 7.02% in 30 days. Based on these gigs, the overall price performance for the year is -11.42%. The short interest in Canopy Growth Corporation (NASDAQ:CGC) is 9.23 million shares and it means that shorts have 2.38 day(s) to cover.
The consensus price target of analysts on Wall Street is $11.02, which implies an increase of 55.54% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8 and $27.85116355 respectively. As a result, CGC is trading at a discount of -468.39% off the target high and -63.27% off the low.
Canopy Growth Corporation (CGC) estimates and forecasts
Statistics show that Canopy Growth Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Canopy Growth Corporation (CGC) shares have gone down -52.14% during the last six months, with a year-to-date growth rate more than the industry average at 44.69% against 11.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 91.50% this quarter and then jump 87.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -17.10% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 47.27M as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to 53.66M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 60.66M and 54.55M respectively. In this case, analysts expect current quarter sales to shrink by -22.10% and then drop by -1.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 20.88%. While earnings are projected to return 68.73% in 2024, the next five years will return 35.49% per annum.
CGC Dividends
Canopy Growth Corporation is due to release its next quarterly earnings on 2024-Nov-08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
Canopy Growth Corporation insiders own 0.20% of total outstanding shares while institutional holders control 9.04%, with the float percentage being 9.06%. STRATEGIC INVESTMENT SOLUTIONS, INC. /IL is the largest shareholder of the company, while 268.0 institutions own stock in it. As of 2024-06-30, the company held over 725.0 shares (or 0.0008% of all shares), a total value of $23222.0 in shares.
The next largest institutional holding, with 230.0 shares, is of TURIM 21 INVESTIMENTOS LTDA.’s that is approximately 0.0003% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $1484.0.
