Canopy Growth Corporation (NASDAQ:CGC) does about 10.28M shares in volume on a normal day but saw 11234052 shares change hands in Tuesday trading. The company now has a market cap of 834.57M USD. Its current market price is $9.16, marking a decrease of -9.58% compared to the previous close of $10.13. The 52 week high reached by this stock is $19.20 whilst the lowest price level in 52 weeks is $2.76.
Canopy Growth Corporation (CGC) has a 20-day trading average at $6.68 and the current price is -52.29% off the 52-week high compared with 232.49% distance from its 52-week low. The 50-day simple moving average of the closing price is $4.92 and its 200-day simple moving average is $5.59. If we look at the stock’s price movements over the week, volatility stands at 19.14%, which increases to 21.78% 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 61.62 to suggest the stock is neutral.
The consensus objective for the share price is $4.24, suggesting that the stock has a potential downside of -116.04% over the period.
Canopy Growth Corporation (CGC) stock is up 9.70% over the week and 200.33% over the past month. Its price is 79.26% year-to-date and -42.03% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of -$1.93 below consensus estimates by -$1.56. CGC’s earnings per share are forecast to grow by 92.30% this year and 75.20% over next year. Expected sales for next quarter are $54.87 million, which analysts say will come at $239.42 million for the current fiscal year and next year at $235.04 million. In addition, estimates put the company’s current quarterly revenue at an average of $53.15 million.
To reach the target analysts have set, the stock logically needs to shrink -116.04 percent from here.
Outstanding shares total 91.11M with insiders holding 19.04% of the shares and institutional holders owning 4.90% of the company’s common stock. The company has a return on investment of -110.01% and return on equity of -113.86%. The beta has a value of 1.34. Price to book ratio is 1.84 and price to sales ratio is 3.41.
