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Positives for Canopy Growth Corporation (CGC) as stock gains in recent trading

Canopy Growth Corporation (NASDAQ: CGC) is 63.41% higher on its value in year-to-date trading and has touched a low of $2.76 and a high of $19.20 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 $7.53 in the last trading session, with the day’s gains setting it 0.82%.

Currently trading at $8.35, the stock is 79.47% and 94.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 32.78 million and changing 10.89% at the moment leaves the stock 52.31% off its SMA200. CGC registered -52.56% loss for a year compared to 6-month loss of 6.67%. The firm has a 50-day simple moving average (SMA 50) of $3.14 and a 200-day simple moving average (SMA200) of -$1.11.

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The stock witnessed a 160.12% gain in the last 1 month and extending the period to 3 months gives it a 63.41%, and is 34.68% up 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 27.51% over the week and 18.73% over the month.

Canopy Growth Corporation (CGC) has around 1621 employees, a market worth around $760.77M and $244.98M in sales. Profit margin for the company is -385.67%. Distance from 52-week low is 203.09% and -56.51% from its 52-week high. The company has generated returns on investments over the last 12 months (-110.01%).

Canopy Growth Corporation quarterly earnings per share for the current quarter are estimated at -$0.33 with sales reaching $53.21M over the same period.The EPS is expected to grow by 90.94% this year, but quarterly earnings will post -19.30% year-over-year. Quarterly sales are estimated to shrink -17.70% in year-over-year returns.

Canopy Growth Corporation (CGC) Top Institutional Holders

266 institutions hold shares in Canopy Growth Corporation (CGC), with institutional investors hold 6.05% of the company’s shares. The shares outstanding are 91.11M, and float is at 73.89M with Short Float at 7.16%. Institutions hold 4.90% of the Float.

The top institutional shareholder in the company is Luxor Capital Group, LP with over 16.55 million shares valued at $6.42 million. The investor’s holdings represent 2.26% of the CGC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 10.97 million shares valued at $4.26 million to account for 1.50% of the shares outstanding. The other top investors are ETF Managers Group, LLC which holds 8.11 million shares representing 1.11% and valued at over $14.19 million, while Two Sigma Investments, LP holds 1.08% of the shares totaling 7.94 million with a market value of $3.08 million.

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 3,713 shares of the company’s common stock on Dec 29 ’23 at a price of $6.68 per share for a total of $24803.0. Following the sale, the insider now owns 17042.0 shares.

Canopy Growth Corporation disclosed in a document filed with the SEC on Dec 29 ’23 that Yanofsky Theresa (Director) sold a total of 3,697 shares of the company’s common stock. The trade occurred on Dec 29 ’23 and was made at $6.68 per share for $24696.0. Following the transaction, the insider now directly holds 17501.0 shares of the CGC stock.

Still, SEC filings show that on Nov 20 ’23, Lazzarato David Angelo (Director) disposed off 38,502 shares at an average price of $0.81 for $31187.0. The insider now directly holds 207,562 shares of Canopy Growth Corporation (CGC).

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