Canopy Growth Corporation (NASDAQ:CGC) has a beta value of 0.83 and has seen 1.29 million shares traded in the recent trading session. The company, currently valued at $304.26M, closed the recent trade at $3.00 per share which meant it lost -$0.05 on the day or -1.79% during that session. The CGC stock price is -397.33% off its 52-week high price of $14.92 and 8.0% above the 52-week low of $2.76. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.9 million shares traded. The 3-month trading volume is 5.55 million shares.
The consensus among analysts is that Canopy Growth Corporation (CGC) is Hold stock at the moment, with a recommendation rating of 3.56. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 4 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.23.
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Canopy Growth Corporation (NASDAQ:CGC) trade information
Sporting -1.79% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CGC stock price touched $3.00 or saw a rise of 7.98%. Year-to-date, Canopy Growth Corporation shares have moved -41.38%, while the 5-day performance has seen it change -8.68%. Over the past 30 days, the shares of Canopy Growth Corporation (NASDAQ:CGC) have changed -20.97%. Short interest in the company has seen 9.19 million shares shorted with days to cover at 1.44.
Wall Street analysts have a consensus price target for the stock at $11.02, which means that the shares’ value could jump 72.78% from the levels at last check today. The projected low price target is $8.0 while the price target rests at a high of $27.85116355. In that case, then, we find that the latest price level in today’s session is -828.37% off the targeted high while a plunge would see the stock gain -166.67% from the levels at last check today.
Canopy Growth Corporation (CGC) estimates and forecasts
Figures show that Canopy Growth Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -57.93% over the past 6 months, with this year growth rate of 18.27%, compared to 11.60% for the industry. Revenue growth from the last financial year stood is estimated to be -20.39%.
7 analysts offering their estimates for the company have set an average revenue estimate of 69.44M for the current quarter. 7 have an estimated revenue figure of 74.25M for the next ending quarter. Year-ago sales stood 90.06M and 83.15M respectively for this quarter and the next, and analysts expect sales will shrink by -22.89% for the current quarter and -20.39% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 20.88% over the past 5 years. Earnings growth for 2024 is a modest 60.79% while over the next 5 years, the company’s earnings are expected to increase by 35.49%.
CGC Dividends
Canopy Growth Corporation is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Canopy Growth Corporation (NASDAQ:CGC)’s Major holders
Insiders own 0.17% of the company shares, while shares held by institutions stand at 8.50% with a share float percentage of 8.52%. Investors are also buoyed by the number of investors in a company, with Canopy Growth Corporation having a total of 258.0 institutions that hold shares in the company. The top two institutional holders are STRATEGIC INVESTMENT SOLUTIONS, INC. /IL with over 725.0 shares worth more than $23222.0. As of 2024-06-30, STRATEGIC INVESTMENT SOLUTIONS, INC. /IL held 0.0008% of shares outstanding.
The other major institutional holder is TURIM 21 INVESTIMENTOS LTDA., with the holding of over 230.0 shares as of 2024-06-30. The firm’s total holdings are worth over $1484.0 and represent 0.0003% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Amplify ETF Tr-Amplify Alternative Harvest ETF and AdvisorShares Trust-AdvisorShares Pure Cannabis ETF. As of Sep 30, 2024, the former fund manager holds about 1.84% shares in the company for having 2.01 shares of worth $5.96 million while later fund manager owns 90.92 shares of worth $0.27 million as of Oct 31, 2024, which makes it owner of about 0.08% of company’s outstanding stock.
