The trading price of Canopy Growth Corporation (NASDAQ:CGC) closed higher on Friday, Feb 19, closing at $36.65, 5.4% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $36.81 and $39.54. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $56.5 and a 52-week low of $9. Over the past month, the stock has gained 14.87% in value.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Canopy Growth Corporation no upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CGC has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CGC a recommendation rating is 19. Out of them, 14 rate it a Hold, while 2 recommend Buy, whereas none assign an Outperform rating. 1 analyst(s) have tagged Canopy Growth Corporation (CGC) as Underperform, while 2 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CGC’s price is currently -4.99% off the SMA20 and 16.43% off the SMA50. The RSI metric on the 14-day chart is currently showing 49.92, and weekly volatility stands at 8.89%. When measured over the past 30 days, the indicator reaches 8.42%. Canopy Growth Corporation (NASDAQ:CGC)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 3.63. With analysts defining $16.51-$59.12 as the low and high price targets, we arrive at a consensus price target of $39.82 for the trailing 12-month period. The current price is about -57.26% off the estimated low and 53.04% off the forecast high, based on this estimate. Investors will be thrilled if CGC’s share price rises to $43.24, which is the median consensus price. At that level, CGC’s share price would be +11.93% above current price.
To see how Canopy Growth Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: CGC stock’s performance was +5.4% in the latest trading, and +73.15% in the past year, while Abbott Laboratories (ABT) has traded -1.89% on the day and positioned +39.09% higher than it was a year ago. Another comparable company Medtronic Inc (MDT) saw its stock close -1.79% lower in the most recent trading session but was down -0.47% in a year. Furthermore, Stryker Corp (SYK) showed an increase of 5.4% on the day while its price kept rising at 73.15% over the past year. Canopy Growth Corporation has a P/E ratio of 0, compared to Abbott Laboratories 49.18 and Medtronic Inc’s 43.69. Also in last trading session, the S&P 500 Index has soared -0.19%, while the Dow Jones Industrial also saw a negative seesion, down 0% on the day.
An evaluation of the daily trading volume of Canopy Growth Corporation (NASDAQ:CGC) indicates that the 3-month average is 7.26 Million. However, this figure has increased over the past 10 days to an average of 7.66 Million.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Currently, records show that 376.84 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 39.05% of outstanding shares, whereas institutions hold 12.51%. The stats also highlight that short interest as of January 28, 2021, stood at 22.04 Million shares, resulting in a short ratio of 3.09 at that time. From this, we can conclude that short interest is 5.9% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 32.38 Million. However, since the stock’s price has seen +56.78% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.