Canopy Growth Corporation (NYSE:CGC) traded at $23.72 at last check on Friday, Nov 20, making a downturn move of -0.63% on its previous day’s price.
Looking at the stock we see that its previous close was $23.87 and the beta (5Y monthly) reads 0 with the day’s price range being $23.51 – 24.15. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, CGC has a high of $26.95 and a low of $9. The company’s stock has gained about 16.85% over that past 30 days.
There have been no upward or downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CGC stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 23 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 15 have rated the Canopy Growth Corporation (CGC) stock as a Hold, while 4 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas 4 suggests the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the CGC stock currently stands at 0, and the current price level is 8.93% off its SMA20 and 27.35% from its 50-day simple moving average. The RSI (14) is pointing at 62.69 while the volatility over the past week is 4.17% and jumps to 6.68% over the past one month. The beta value is 0, while the average true range (ATR) is currently pointing at 1.42. The average price target for the stock over the next 12 months is $20.47, with the estimates having a low of $13.5 and a high of $29.3. These price ends are -43.09% and +23.52% off the current price level respectively, although investors could be excited at the prospect of a -14.88% if the CGC share price touches on the median price of $20.19.
Let’s briefly compare Canopy (CGC) stock to its peers. We find that today’s price change of -0.63% and +16.9% over the past 12 months for CGC competes that of Abbott Laboratories (ABT), which has seen its stock price fall -0.1% in the latest trading session and is +32.52% over the last one year. Another of its peers Medtronic Inc (MDT) has dropped -0.76% today, but is -0.3% down over the past year, while Stryker Corp (SYK) is also down -0.63% yet its price remains in the green at 16.9% over the same period. Abbott has a P/E ratio of 58.98 compared to Canopy’s 0 and Medtronic’s 33.99. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.68% and -0.75%, respectively, in early deals.
Coming back to Canopy Growth Corporation (NYSE:CGC), we note that the average 3-month trading volume was 6.16 Million, while that of the preceding 10-day period stands at 5.75 Million. Current shares outstanding are 372.28 Million.
According to data from Thomson Reuters, insiders hold 39.05% of the company’s shares while institutions hold 12.8%. The data shows that short shares as of October 29, 2020, stood at 38.79 Million at a short ratio of 6.1. This represents a 10.43% Short interest in Shares outstanding on October 29, 2020. Shares short dropped in October from the previous month at 46.97 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +12.47% up in year-to-date price movement.