Canopy Growth Corporation (CGC) saw downtrend of -2.25% in the recent trading with $4.34 being its most recent. The current price level -70.91% lower than the highest price of $14.92 marked by the stock while trading over the past 52-weeks, whereas it is 57.53% higher than the lowest price of $2.76 the company dropped to over past 52-weeks. The latest news story on CGC appeared in (PR Newswire) under the title “Canopy Growth Further Improves Balance Sheet with Early Prepayment to Reduce Term Loan by US$100 Million and Ensures Maturity Extension to at Least December 2026”.
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Squeezing the time span to 30 day period shows us the stock is currently trading -18.27% below one month high and is +12.73% above of the lowest during that time. Looking into the simple moving average, Canopy Growth Corporation (CGC)’s stock stands at a SMA-50 of $5.03 while that of 5-day is reading $4.30.
Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and CGC’s SMA-200 as of now is $6.21.
Do analysts rate it as a buy, sell or hold?
Irrespective of recent performance, what’s important is what the future holds. In uncertain economic times, a clear picture is difficult to get. Analysts generally have a good understanding of the market works, which gives them a leg up in making predictions. Currently, the stock has been recommended as Hold by 4 of the brokerage firms. Analyst ratings are often compiled into a single score from 1 to 5. The score of 1 signifies buy or strong buy, the score of 2 signifies outperform, the score of 3 means hold, and the score of 4 indicates underperform. The simple numeric range of brokerage firm referenced at the scale of 1 to 5 reads a current average recommendation of 3.45 for the stock.
Canopy Growth Corporation Earnings – What Happened With CGC
Coming around sales and income figures on CGC Stock Income Statement, public trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor.
CGC – Canopy Growth Corporation Stock Earnings Estimates
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 91.12 million. CGC does have institutional investors; and they hold 9.39% of the stock.
Canopy Growth Corporation – Insider Activity and Holdings
As on 2024-06-30, STRATEGIC INVESTMENT SOLUTIONS, INC. /IL was the top most holder in Canopy Growth Corporation (NASDAQ:CGC) with an ownership of 725.0 shares of the company or 0.0008 of the stake worth $23222.0. The filing also reveals TURIM 21 INVESTIMENTOS LTDA. as the second largest holder in the company with a control over 0.0003 of the outstanding shares. Its stake is worth $1484.0 for having 230.0 shares in hand.
STUDIO INVESTMENT MANAGEMENT LLC also came holding a key position in the company during the recent quarter and it now holds 0.0001 of the outstanding shares. With this there are now 265.0 institutions which have possession in CGC’s shares.
Currently, the stock has been recommended as Hold by 4 of the brokerage firms. Analyst ratings are often compiled into a single score from 1 to 5. The score of 1 signifies buy or strong buy, the score of 2 signifies outperform, the score of 3 means hold, and the score of 4 indicates underperform. The simple numeric range of brokerage firm referenced at the scale of 1 to 5 reads a current average recommendation of 3.45 for the stock.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, Canopy Growth Corporation has a debt to equity ratio of 1.17.
Technical Analysis of Canopy Growth Corporation (NASDAQ:CGC) stock
To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Canopy Growth Corporation (CGC), we notice that the stock’s 20-day average volume is at 4,073,940 shares and 75% of short term indicators are suggesting the stock as Sell. Medium term indicators at an average of 100% are spotting the stock at Sell with its 50-day average volume of 3,264,818 shares. And to end, CGC’s 100-day average volume is 3,660,349 shares with 100% of the long-term indicators pointing towards Sell for the stock.
