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Canopy Growth Corporation (CGC) – key numbers that make it a Strong Buy For Now

Canopy Growth Corporation (NASDAQ: CGC) is -10.39% lower on its value in year-to-date trading and has touched a low of $2.01 and a high of $8.79 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CGC stock was last observed hovering at around $2.03 in the last trading session, with the day’s gains setting it 0.04% off its average median price target of $2.03 for the next 12 months. It is also 69.29% off the consensus price target high of $6.74 offered by 18 analysts, but current levels are -107.0% lower than the price target low of $1.00 for the same period.

Currently trading at $2.07, the stock is -9.47% and -17.23% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.21 million and changing 1.97% at the moment leaves the stock -32.24% off its SMA200. CGC registered -65.95% loss for a year compared to 6-month loss of -45.95%.

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The stock witnessed a -9.21% gain in the last 1 month and extending the period to 3 months gives it a -27.87%, and is -5.91% 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 4.86% over the week and 4.64% over the month.

Canopy Growth Corporation (CGC) has around 3151 employees, a market worth around $1.02B and $440.96M in sales. Distance from 52-week low is 2.99% and -76.45% 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 “Underweight”. 18 analysts offering their recommendations for the stock have an average rating of 3.90, where 7 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 7 analysts have rated the stock as a Sell or Underperform.

Canopy Growth Corporation is expected to release its quarterly report on 05/30/2023.The EPS is expected to shrink by -665.50% this year.

Canopy Growth Corporation (CGC) Top Institutional Holders

The shares outstanding are 494.89M, and float is at 322.97M with Short Float at 15.20%.

Canopy Growth Corporation (CGC) Insider Activity

The most recent transaction is an insider sale by Lazzarato David Angelo,the company’sDirector. SEC filings show that Lazzarato David Angelo sold 3,733 shares of the company’s common stock on Dec 28 at a price of $2.97 per share for a total of $11087.0. Following the sale, the insider now owns 19679.0 shares.

Canopy Growth Corporation disclosed in a document filed with the SEC on Dec 28 that Yanofsky Theresa (Director) sold a total of 3,717 shares of the company’s common stock. The trade occurred on Dec 28 and was made at $2.97 per share for $11039.0. Following the transaction, the insider now directly holds 25137.0 shares of the CGC stock.

Still, SEC filings show that on Dec 28, SCHMELING JUDY (Director) disposed off 1,792 shares at an average price of $2.97 for $5322.0. The insider now directly holds 57,798 shares of Canopy Growth Corporation (CGC).

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 0.52% up over the past 12 months. S&W Seed Company (SANW) is -28.14% down on the 1-year trading charts.

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