Canopy Growth Corporation (NYSE:CGC) in recent session today was buoying at a fall of -1.88% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $18.34 and 5Y monthly beta was reading 0 with its price kept floating in the range of $17.44 and $18.06 on the day. Company’s P/E ratio for the trailing 12 months is 0. Considering stock’s 52-week price range provides that CGC hit a high price of $25.97 and saw its price falling to a low level of $9 during that period. Over a period of past 1-month, stock came adding 11.69% in its value.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with nil upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review CGC stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of Hold. Long term indicators are suggesting an average of 50% Buy for it.
According to ratings assigned by 21 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 14 of them are recommending Canopy Growth Corporation (CGC) as a Hold, while 4 are in view that stock is a Buy. Recommendation by 1 analysts for the stock is an Outperform while number of those analysts who rated the stock as Underperform is none, whereas 2 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Hold and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the CGC stock which is currently positioned at 0. It further provides that stock’s current price level is 13.89% away from its 20-day simple moving average and is 10.03% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 60.13 while volatility remained at 7.85% over the past week which changes to 5.48% when measuring it over the past month. Beta is valued at 0, while measure of average true range or ATR is currently at 0.97. In predicting price targets of as low as $13.76 and as high as $23, analysts are in agreement on assigning the stock over the next 12 months average price target of $17.95. Stock’s current price level is -23.56% above from estimated low price target while it is 27.78% below the estimated high; and even if the CGC’s share succeeded to reach the median price of $17.97, then the outlook of -0.17% could come to the excitement of the investors.
In comparing Canopy Growth Corporation (CGC)’s stock with other industry players reveals that stock’s latest price change of -1.88% and that of -8.76% over the past 12 months is in competing position with that of Abbott Laboratories (ABT) which saw its stock price fell by -0.32% in the recent trading and went through an increase of 31.43% in past 12-month trading. Industry’s another major player Medtronic Inc (MDT) has fell -0.2% down in latest trading session, but over the past year has faced a fall of -0.58%, while Stryker Corp (SYK) is also down -1.88% however its price remained floating in the red at -8.76% over the same period. Canopy Growth Corporation has a P/E ratio of 0 against that of Abbott Laboratories’s 62.32 while Medtronic Inc is showing 33.19 for the same. On the other hand, the S&P 500 Index was down -0.54% in the early deals while the Dow Jones Industrial was dealing lower at -0.29%.
Having a second look at Canopy Growth Corporation (NYSE:CGC) provides that stock’s average daily trading volume for 3 months was 4.51 Million, while it jumped to 8.4 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 371.27 Million.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 41.62% while it is 13.35% for the institutional holders. The figures also indicate that as of September 29, 2020, number of stock’s short shares was 46970000 which implies a short ratio of 13.37. This shows up a 12.65% of Short Interest in company’s outstanding shares on the day. In September the standing of shares short improved as it was 46.6 Million in the previous month. Drop of -13.04% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ worries about the stock as it is hinting a further drop.