Canopy Growth Corporation (NASDAQ: CGC)’s stock price has increased by 0.49 compared to its previous closing price of 2.03. Nevertheless, the company has seen a -4.23% plunge in its stock price over the last five trading sessions. Barron’s reported on 02/09/22 that Canopy Growth Stock Jumps After Earnings, Despite Slowing Marijuana Sales
Is It Worth Investing in Canopy Growth Corporation (NASDAQ: CGC) Right Now?
The public float for CGC is 322.97M, and currently, short sellers hold a 15.20% ratio of that floaft. The average trading volume of CGC on March 17, 2023 was 8.05M shares.
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CGC’s Market Performance
CGC’s stock has seen a -4.23% decrease for the week, with a -12.07% drop in the past month and a -29.90% fall in the past quarter. The volatility ratio for the week is 4.99%, and the volatility levels for the past 30 days are at 4.65% for Canopy Growth Corporation The simple moving average for the last 20 days is -9.77% for CGC stock, with a simple moving average of -32.50% for the last 200 days.
Analysts’ Opinion of CGC
Many brokerage firms have already submitted their reports for CGC stocks, with Bernstein repeating the rating for CGC by listing it as a “Underperform.” The predicted price for CGC in the upcoming period, according to Bernstein is $1.50 based on the research report published on November 02nd of the previous year 2022.
CGC Trading at -18.11% from the 50-Day Moving Average
After a stumble in the market that brought CGC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -76.79% of loss for the given period.
Volatility was left at 4.65%, however, over the last 30 days, the volatility rate increased by 4.99%, as shares sank -16.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.69% lower at present.
During the last 5 trading sessions, CGC fell by -4.23%, which changed the moving average for the period of 200-days by -58.20% in comparison to the 20-day moving average, which settled at $2.24. In addition, Canopy Growth Corporation saw -11.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CGC starting from Lazzarato David Angelo, who sale 3,733 shares at the price of $2.97 back on Dec 28. After this action, Lazzarato David Angelo now owns 19,679 shares of Canopy Growth Corporation, valued at $11,087 using the latest closing price.
Yanofsky Theresa, the Director of Canopy Growth Corporation, sale 3,717 shares at $2.97 during a trade that took place back on Dec 28, which means that Yanofsky Theresa is holding 25,137 shares at $11,039 based on the most recent closing price.
Conclusion
In a nutshell, Canopy Growth Corporation (CGC) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
