Canopy Growth Corporation (NYSE:CGC) does about 5.04M shares in volume on a normal day but saw 5251533 shares change hands in Monday trading. The company now has a market cap of 6.13B USD and an enterprise value of about $5.04B. Its current market price is $16.52, marking a decrease of -2.25% compared to the previous close of $16.90. The 52 week high reached by this stock is $28.89 whilst the lowest price level in 52 weeks is $9.00. The script in recent trading has seen the stock touch a high of $16.95 and a low of $16.19.
Canopy Growth Corporation (CGC) has a 20-day trading average at $17.09 and the current price is -42.82% off the 52-week high compared with 83.56% distance from its 52-week low. The 50-day simple moving average of the closing price is $17.20 and its 200-day simple moving average is $17.67. If we look at the stock’s price movements over the week, volatility stands at 3.32%, which increases to 4.15% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.03 to suggest the stock is neutral.
22 analysts observing the Canopy Growth Corporation (CGC) stock have set the 12-month price targets for the company’s shares at between $11.67 and $23.00. The median price target is 7.14% away from the current levels at $17.79.
FactSet Research has provided data showing that 22 brokerages have issued ratings for the stock. 3 analysts have rated it as a sell, while 1 advise that it is a overweight. 4 analysts have rated it as a buy and 14 have advised that investors hold their positions. The consensus recommendation rating is Hold.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 01, 2020 when Stifel downgraded the stock to “Sell” and issued a price target of . Ladenburg Thalmann also downgraded the stock to “Neutral” from Buy on June 01, 2020 at a price target of .
The current price level is -4.04%, -4.02%, and -6.55% away from its SMA20, SMA50, and SMA200 respectively, with the CGC price moving above the 50-day SMA on August 31. Canopy Growth Corporation (CGC) stock is up 0.55% over the week and -9.63% over the past month. Its price is -21.67% year-to-date and -29.94% over the past year.
Its 12-month price target is $17.79. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $11.67, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $23.00.
Outstanding shares total 371.27M with insiders holding 41.62% of the shares and institutional holders owning 13.35% of the company’s common stock. Price to book ratio is 3.13.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total International Stoc has added its position in Canopy Growth Corporation (CGC) to 3,661,077 shares, mirroring a recent increase by 0.02%. Vanguard Total International Stoc added 570.0 shares of Canopy Growth Corporation common stock bringing its total worth to about $66.92 million at the end of recent close, SEC documents show. Vanguard Total International Stoc isn’t the only investment manager who changed stakes and is followed by ETFMG Alternative Harvest ETF, which added 6140.0 shares to end up with 2,727,796 shares worth $49.86 million. Horizons Medical Marijuana Life S cut their holdings by 0.00% in the company over the course of the most recent quarter. It now holds a 0.56% position in Canopy Growth Corporation thanks to 2.08 million shares amounting to $38.08 million.