Canopy Growth Corporation (CGC) Review – Making Smarter Decisions

473 institutions hold shares in Canopy Growth Corporation (CGC), with 147.16M shares held by insiders accounting for 39.05% while institutional investors hold 20.53% of the company’s shares. The shares outstanding are 376.84M, and float is at 230.62M with Short Float at 9.56%. Institutions hold 12.51% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 6.54 million shares valued at $93.7 million. The investor’s holdings represent 1.75% of the CGC Shares outstanding. As of Sep 29, 2020, the second largest holder is Susquehanna International Group, LLP with 2.98 million shares valued at $42.62 million to account for 0.79% of the shares outstanding. The other top investors are ETF Managers Group, LLC which holds 2.62 million shares representing 0.70% and valued at over $37.48 million, while Bank Of Nova Scotia / holds 0.48% of the shares totaling 1.78 million with a market value of $25.54 million.

Canopy Growth Corporation (NASDAQ: CGC) is 56.78% higher on its value in year-to-date trading and has touched a low of $9.00 and a high of $56.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CGC stock was last observed hovering at around $36.65 in the last trading session, with the day’s gains setting it 1.98% off its average median price target of $43.24 for the next 12 months. It is also 34.66% off the consensus price target high of $59.12 offered by 19 analysts, but current levels are -133.98% lower than the price target low of $16.51 for the same period.

Currently trading at $38.63, the stock is -4.99% and 16.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.92 million and changing 5.40% at the moment leaves the stock 75.90% off its SMA200. CGC registered 73.15% gain for a year compared to 6-month gain of 132.29%. The firm has a 50-day simple moving average (SMA 50) of $37.14 and a 200-day simple moving average (SMA200) of $24.40.

The stock witnessed a 14.87% loss in the last 1 month and extending the period to 3 months gives it a 57.61%, and is -4.97% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.89% over the week and 8.42% over the month.

Distance from 52-week low is 329.22% and -31.62% from its 52-week high.

Canopy Growth Corporation (CGC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Canopy Growth Corporation (CGC) is a “Hold”. 19 analysts offering their recommendations for the stock, where 14 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Canopy Growth Corporation is expected to release its quarterly report on 06/01/2021..

Canopy Growth Corporation (CGC) Insider Activity

A total of 12 insider transactions have happened at Canopy Growth Corporation (CGC) in the last six months, with sales accounting for 7 and purchases happening 5 times. The most recent transaction is an insider sale by Kovacevic Rade Nikola, the company’s President. SEC filings show that Kovacevic Rade Nikola sold 4,372 shares of the company’s common stock on Nov 13 at a price of $31.40 per share for a total of $0.14 million. Following the sale, the insider now owns 0.0 shares.

Canopy Growth Corporation disclosed in a document filed with the SEC on Nov 13 that Kovacevic Rade Nikola (President) sold a total of 86,666 shares of the company’s common stock. The trade occurred on Nov 13 and was made at $31.38 per share for $2.72 million. Following the transaction, the insider now directly holds 0.19 million shares of the CGC stock.

Still, SEC filings show that on Nov 12, Kovacevic Rade Nikola (President) disposed off 150,000 shares at an average price of $31.65 for $4.75 million. The insider now directly holds 185,293 shares of Canopy Growth Corporation (CGC).

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Canopy Growth Corporation (CGC): Who are the competitors?

The company’s main competitors (and peers) include The Simply Good Foods Company (SMPL) that is trading 14.73% up over the past 12 months. S&W Seed Company (SANW) is 46.56% up on the 1-year trading charts. Short interest in the company’s stock has fallen -46.91% from the last report on Dec 30, 2020 to stand at a total of 32.38 million short shares sold with a short interest ratio of 3.09.

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