Canopy Growth Corporation (NASDAQ:CGC) price closed higher on Tuesday, August 24, jumping 2.84% above its previous close.
A look at the daily price movement shows that the last close reads $17.25, with intraday deals fluctuated between $17.14 and $17.78. The company’s 5Y monthly beta was ticking 2.09. Taking into account the 52-week price action we note that the stock hit a 52-week high of $56.50 and 52-week low of $13.83. The stock subtracted -9.99% on its value in the past month.
Canopy Growth Corporation, which has a market valuation of $6.79 billion, is expected to release its quarterly earnings report Nov 08, 2021 – Nov 12, 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give CGC a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 18 analysts have assigned CGC a recommendation rating as follows: 12 rate it as a Hold; 3 advise Buy while 2 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Canopy Growth Corporation (CGC) stock as Underweight, with 1 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that CGC’s price is at present -3.41% off the SMA20 and -14.81% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 40.29, with weekly volatility standing at 4.15%. The indicator jumps to 4.48% when calculated based on the past 30 days. Canopy Growth Corporation (NASDAQ:CGC)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.79. Considering analysts have assigned the stock a price target range of $14.31-$40.55 as the low and high respectively, we find the trailing 12-month average consensus price target to be $23.01. Based on this estimate, we see that current price is roughly 19.33% off the estimated low and -128.58% off the forecast high. Investors will no doubt be excited to see the share price fall to $20.18, which is the median consensus price, and at that level CGC would be -13.75% from current price.
Turning out attention to how the Canopy Growth Corporation stock has performed in comparison to its peers in the industry, here’s what we find: CGC’s stock is 2.84% on the day and 7.97% in the past 12 months, while The Simply Good Foods Company (SMPL) traded -1.73% in the last session and was positioned 38.89% up on its price 12 months ago. Also, S&W Seed Company (SANW) showed down trend of -0.69% while its price kept floating at 21.70% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.15% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.09%.
An analysis of the Canopy Growth Corporation (NASDAQ:CGC) stock in terms of its daily trading volume indicates that the 3-month average is 3.44 million.
Current records show that the company has 382.98M in outstanding shares. The insiders’ percentage holdings are 37.97% of outstanding shares while the percentage share held by institutions stands at 15.39%. But the -28.00% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.