In the past week, CGC stock has gone down by -2.88%, with a monthly decline of -35.73% and a quarterly surge of 90.57%. The volatility ratio for the week is 5.16%, and the volatility levels for the last 30 days are 8.95% for Canopy Growth Corporation The simple moving average for the past 20 days is -15.62% for CGC’s stock, with a 6.77% simple moving average for the past 200 days.
Is It Worth Investing in Canopy Growth Corporation (NASDAQ: CGC) Right Now?
The 36-month beta value for CGC is also noteworthy at 0.96. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CGC is 41.99M, and at present, short sellers hold a 24.65% of that float. The average trading volume of CGC on June 17, 2024 was 17.27M shares.
CGC) stock’s latest price update
Canopy Growth Corporation (NASDAQ: CGC) has seen a decline in its stock price by -2.35 in relation to its previous close of 7.24. However, the company has experienced a -2.88% decline in its stock price over the last five trading sessions. benzinga.com reported 2024-06-17 that Tim Seymour, portfolio manager of the $CNBS Amplify Seymour Cannabis ETF CNBS, is renowned for recognizing the potential of the cannabis sector early on. In an exclusive interview with Benzinga Cannabis, he discussed the critical role of strategic partnerships in expanding market reach, the importance of operational efficiencies in improving gross margins and the potential of the U.S. hemp cannabinoid market as a burgeoning and legally complex segment poised for substantial growth.
Analysts’ Opinion of CGC
Bernstein, on the other hand, stated in their research note that they expect to see CGC reach a price target of $1.50. The rating they have provided for CGC stocks is “Underperform” according to the report published on November 02nd, 2022.
CGC Trading at -20.36% 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 -63.18% of loss for the given period.
Volatility was left at 8.95%, however, over the last 30 days, the volatility rate increased by 5.16%, as shares sank -35.85% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -31.63% lower at present.
During the last 5 trading sessions, CGC fell by -4.40%, which changed the moving average for the period of 200-days by +53.00% in comparison to the 20-day moving average, which settled at $8.18. In addition, Canopy Growth Corporation saw 38.36% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CGC starting from Mongeau Luc, who sale 3,745 shares at the price of $9.94 back on Jun 10 ’24. After this action, Mongeau Luc now owns 17,288 shares of Canopy Growth Corporation, valued at $37,225 using the latest closing price.
Kruh Willy, the Director of Canopy Growth Corporation, sale 3,738 shares at $9.94 during a trade that took place back on Jun 10 ’24, which means that Kruh Willy is holding 17,295 shares at $37,156 based on the most recent closing price.
Stock Fundamentals for CGC
Current profitability levels for the company are sitting at:
- -0.57 for the present operating margin
- 0.2 for the gross margin
The net margin for Canopy Growth Corporation stands at -1.96. The total capital return value is set at -0.23. Equity return is now at value -81.30, with -27.23 for asset returns.
Based on Canopy Growth Corporation (CGC), the company’s capital structure generated 0.56 points at debt to capital in total, while cash flow to debt ratio is standing at -0.6. The debt to equity ratio resting at 1.25. The interest coverage ratio of the stock is -1.74.
Currently, EBITDA for the company is -88.15 million with net debt to EBITDA at -4.38. When we switch over and look at the enterprise to sales, we see a ratio of 2.83. The receivables turnover for the company is 8.44for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.58.
Conclusion
In summary, Canopy Growth Corporation (CGC) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. 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.
