The stock price of Canopy Growth Corporation (NASDAQ: CGC) has surged by 4.23 when compared to previous closing price of 3.90, but the company has seen a 7.26% gain in its stock price over the last five trading sessions. accesswire.com reported 2024-11-25 that NEW YORK, NY / ACCESSWIRE / November 25, 2024 / Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE:ACRG.A.U, ACRG.B.U)(OTCQX:ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., is pleased to announce that, further to its press releases of June 4 and June 5, 2024, Acreage anticipates that Canopy USA, LLC (“Canopy USA”) will complete its acquisition of Acreage pursuant to the Acquisitions (as defined below) in mid-December, 2024. As further described below, as a result of the dilution in respect of the Offering (as defined below) completed by the Company in June 2024, the Company expects that the Exchange Ratio (as defined below) relating to the Fixed Shares (as defined below) will be significantly reduced.
Is It Worth Investing in Canopy Growth Corporation (NASDAQ: CGC) Right Now?
The 36-month beta value for CGC is also noteworthy at 0.85. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 7 rating it as “hold,” and 3 rating it as “sell.”
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The public float for CGC is 100.67M, and at present, short sellers hold a 9.17% of that float. The average trading volume of CGC on November 25, 2024 was 5.09M shares.
CGC’s Market Performance
The stock of Canopy Growth Corporation (CGC) has seen a 7.26% increase in the past week, with a -25.28% drop in the past month, and a -27.15% fall in the past quarter. The volatility ratio for the week is 5.01%, and the volatility levels for the past 30 days are at 8.73% for CGC. The simple moving average for the past 20 days is -6.04% for CGC’s stock, with a -34.43% 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 -8.71% 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 -72.75% of loss for the given period.
Volatility was left at 8.73%, however, over the last 30 days, the volatility rate increased by 5.01%, as shares sank -25.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.98% lower at present.
During the last 5 trading sessions, CGC rose by +6.26%, which changed the moving average for the period of 200-days by +0.18% in comparison to the 20-day moving average, which settled at $4.32. In addition, Canopy Growth Corporation saw -20.45% 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:
- -0.58 for the present operating margin
- 0.29 for the gross margin
The net margin for Canopy Growth Corporation stands at -2.01. The total capital return value is set at -0.17. 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 -0.29. The debt to equity ratio resting at 1.09. The interest coverage ratio of the stock is -1.83.
Currently, EBITDA for the company is -75.77 million with net debt to EBITDA at -0.86. When we switch over and look at the enterprise to sales, we see a ratio of 3.98. The receivables turnover for the company is 6.7for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.39.
Conclusion
In summary, Canopy Growth Corporation (CGC) has had a bad 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.
