The stock of Canopy Growth Corporation (CGC) has seen a -15.96% decrease in the past week, with a -21.08% drop in the past month, and a -35.35% decrease in the past quarter. The volatility ratio for the week is 6.21%, and the volatility levels for the past 30 days are at 6.61% for CGC. The simple moving average for the last 20 days is -17.28% for CGC’s stock, with a simple moving average of -19.21% for the last 200 days.
Is It Worth Investing in Canopy Growth Corporation (NASDAQ: CGC) Right Now?
Company’s 36-month beta value is 0.87.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 3 as “sell.”
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The public float for CGC is 84.06M, and currently, short sellers hold a 8.84% ratio of that floaft. The average trading volume of CGC on September 03, 2024 was 3.54M shares.
CGC) stock’s latest price update
Canopy Growth Corporation (NASDAQ: CGC)’s stock price has gone decline by -0.48 in comparison to its previous close of 5.21, however, the company has experienced a -15.96% decrease in its stock price over the last five trading days. marijuanastocks.com reported 2024-09-03 that Investors looking to capitalize on the growing cannabis market should watch top Canadian marijuana stocks this week. With the US cannabis industry projected to reach $41 billion by 2025, many Canadian companies are expanding their presence across the border. This expansion is driven by increasing legalization efforts and growing consumer demand. For example, recent news highlights the potential for federal legalization in the US, which could open up significant opportunities for Canadian companies. Investors should utilize technical analysis and proper risk management strategies to navigate this dynamic market. Analyzing price trends, volume, and support levels can provide valuable insights into potential stock movements.
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 -22.20% 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 -72.99% of loss for the given period.
Volatility was left at 6.61%, however, over the last 30 days, the volatility rate increased by 6.21%, as shares sank -11.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.61% lower at present.
During the last 5 trading sessions, CGC fell by -12.98%, which changed the moving average for the period of 200-days by +1.00% in comparison to the 20-day moving average, which settled at $6.23. In addition, Canopy Growth Corporation saw 1.47% 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 Klein David Eric, who sale 40,135 shares at the price of $8.35 back on Aug 22 ’24. After this action, Klein David Eric now owns 360,829 shares of Canopy Growth Corporation, valued at $335,127 using the latest closing price.
Gedeon Christelle sale 16,788 shares at $8.35 during a trade that took place back on Aug 22 ’24, which means that Gedeon Christelle is holding 128,435 shares at $140,180 based on the most recent closing price.
Stock Fundamentals for CGC
Current profitability levels for the company are sitting at:
- -0.41 for the present operating margin
- 0.27 for the gross margin
The net margin for Canopy Growth Corporation stands at -2.62. The total capital return value is set at -0.13. Equity return is now at value -86.35, with -34.23 for asset returns.
Based on Canopy Growth Corporation (CGC), the company’s capital structure generated 0.53 points at debt to capital in total, while cash flow to debt ratio is standing at -0.37. The debt to equity ratio resting at 1.13. The interest coverage ratio of the stock is -1.14.
Currently, EBITDA for the company is -88.15 million with net debt to EBITDA at -7.48. When we switch over and look at the enterprise to sales, we see a ratio of 2.88. The receivables turnover for the company is 7.06for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.15.
Conclusion
In a nutshell, Canopy Growth Corporation (CGC) has experienced a bad performance in recent times. The stock has received mixed “sell” 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.
