Canopy Growth Corporation (NASDAQ: CGC) has experienced a rise in its stock price by 1.61 compared to its previous closing price of 3.73. However, the company has seen a fall of -6.19% in its stock price over the last five trading days. newsfilecorp.com reported 2024-11-14 that Toronto, Ontario–(Newsfile Corp. – November 14, 2024) – Canadian Gold Corp. (TSXV: CGC) (“Canadian Gold” or the “Company”) is pleased to announce results from its Phase 3 Drill Program at the Tartan Mine, located near Flin Flon, Manitoba. Results in this news release have extended the high-grade mineralization along the western limits of the Main Zone (MZ) and continue to highlight a separate, longer-term opportunity of lower-grade bulk tonnage.
Is It Worth Investing in Canopy Growth Corporation (NASDAQ: CGC) Right Now?
CGC has 36-month beta value of 0.87. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 7 as “hold,” and 3 as “sell.”
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The public float for CGC is 84.10M, and currently, short sellers hold a 10.97% ratio of that float. The average trading volume of CGC on November 19, 2024 was 4.96M shares.
CGC’s Market Performance
The stock of Canopy Growth Corporation (CGC) has seen a -6.19% decrease in the past week, with a -14.64% drop in the past month, and a -40.50% fall in the past quarter. The volatility ratio for the week is 8.86%, and the volatility levels for the past 30 days are at 10.17% for CGC. The simple moving average for the past 20 days is -18.39% for CGC’s stock, with a -38.97% simple moving average for the past 200 days.
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 -16.57% 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 -74.60% of loss for the given period.
Volatility was left at 10.17%, however, over the last 30 days, the volatility rate increased by 8.86%, as shares sank -12.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.86% lower at present.
During the last 5 trading sessions, CGC fell by -6.19%, which changed the moving average for the period of 200-days by -18.32% in comparison to the 20-day moving average, which settled at $4.64. In addition, Canopy Growth Corporation saw -25.83% 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 Kruh Willy, who sale 1,995 shares at the price of $4.95 back on Sep 30 ’24. After this action, Kruh Willy now owns 13,288 shares of Canopy Growth Corporation, valued at $9,875 using the latest closing price.
Yanofsky Theresa, the Director of Canopy Growth Corporation, sale 1,987 shares at $4.95 during a trade that took place back on Sep 30 ’24, which means that Yanofsky Theresa is holding 24,199 shares at $9,836 based on the most recent closing price.
Stock Fundamentals for CGC
Current profitability levels for the company are sitting at:
- -0.6 for the present operating margin
- 0.24 for the gross margin
The net margin for Canopy Growth Corporation stands at -2.08. The total capital return value is set at -0.15. Equity return is now at value -92.35, with -40.09 for asset returns.
Based on Canopy Growth Corporation (CGC), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at -0.28. The debt to equity ratio resting at 1.09. The interest coverage ratio of the stock is -1.66.
Currently, EBITDA for the company is -228.71 million with net debt to EBITDA at -1.43. When we switch over and look at the enterprise to sales, we see a ratio of 3.63. The receivables turnover for the company is 5.82for trailing twelve months and the total asset turnover is 0.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.39.
Conclusion
To put it simply, Canopy Growth Corporation (CGC) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
