Canopy Growth Corporation (NASDAQ:CGC) price on Friday, November 15, fall -0.27% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.73.
A look at the stock’s price movement, the close in the last trading session was $3.74, moving within a range at $3.63 and $3.8. The beta value (5-Year monthly) was 1.779. Turning to its 52-week performance, $14.92 and $2.76 were the 52-week high and 52-week low respectively. Overall, CGC moved -13.46% over the past month.
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Canopy Growth Corporation’s market cap currently stands at around $689.16 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-07.
Analysts have a consensus estimate of 69.55M for the company’s revenue for the quarter, with a low and high estimate of 62.6M and 75.59M respectively. The average forecast suggests down to a -22.77% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 275.21M, representing a -19.98% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CGC is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend CGC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CGC’s current price about -20.15% and -18.28% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.75, while 7-day volatility ratio is 9.72% and 10.13% in the 30-day chart. Further, Canopy Growth Corporation (CGC) has a beta value of 0.85, and an average true range (ATR) of 0.44. Analysts have given the company’s stock an average 52-week price target of $11.021103290500001, forecast between a low of $8 and high of $27.85116355. Looking at the price targets, the low is -114.48% off current price level while to achieve the yearly target high, price needs to move -646.68%. Nonetheless, investors will most likely welcome a -195.47% jump to $11.021103290500001 which is the analysts’ median price.
If we refocus on Canopy Growth Corporation (NASDAQ:CGC), historical trading data shows that trading volumes averaged 9.06 over the past 10 days and 4.93 million over the past 3 months. The company’s latest data on shares outstanding shows there are 91.12 million shares.
The 0.89% of Canopy Growth Corporation’s shares are in the hands of company insiders while institutional holders own 11.12% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.22 million on 2024-10-31, giving us a short ratio of 1.36. The data shows that as of 2024-10-31 short interest in Canopy Growth Corporation (CGC) stood at 1236.0 of shares outstanding, with shares short rising to 7.96 million registered in 2024-09-30. Current price change has pushed the stock -27.01% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CGC stock continues to rise going into the next quarter.
