With over 30.82 million Canopy Growth Corporation (CGC) shares trading Friday and a closing price of $0.62 on the day, the dollar volume was approximately $19.11 million. The shares have shown a negative half year performance of -25.10% and its price on 12/01/23 gained nearly 10.36%. Currently, there are 829.08M common shares owned by the public and among those 634.43M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for CGC have a consensus price objective of $0.73. The analysts have set the share’s price value over the next 12 months at a high of $1.45 and a low of $0.36. The average price target is 15.07% above its recent price level and a downside to the estimated low will see the stock lose -72.22% over that period. But an upside of 57.24% will see the stock hit the forecast high price target while median target price for the stock is $0.53.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 106,133,698 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 100,309,654 shares.
The top 3 mutual fund holders in Canopy Growth Corporation are ETFMG Alternative Harvest ETF, Horizons Marijuana Life Sciences, and Global X Cannabis ETF. ETFMG Alternative Harvest ETF owns 22.91 million shares of the company’s stock, all valued at over $12.94 million. Horizons Marijuana Life Sciences sold 43626.0 shares to see its total holdings shrink to 3.99 million shares valued at over $2.25 million and representing 0.53% of the shares outstanding. Global X Cannabis ETF now owns shares totaling to 0.47% of the shares outstanding.
The company’s stock has a 5-day price change of 10.73% and 12.36% over the past three months. CGC shares are trading -73.25% year to date (YTD), with the 12-month market performance down to -82.93% lower. It has a 12-month low price of $0.35 and touched a high of $4.77 over the same period. CGC has an average intraday trading volume of 52.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.16%, -2.27%, and -37.27% respectively.
Institutional ownership of Canopy Growth Corporation (NASDAQ: CGC) shares accounts for 10.00% of the company’s 829.08M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $512.37M and a beta (3y monthly) value of 1.60. The earnings-per-share (ttm) stands at -$1.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.09% over the week and 10.09% over the month.
Analysts forecast that Canopy Growth Corporation (CGC) will achieve an EPS of -$0.05 for the current quarter, -$0.04 for the next quarter and -$0.1 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 93.81%, and 62.35% over the next financial year. EPS should grow at an annualized rate of 13.28% over the next five years, compared to -76.81% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Canopy Growth Corporation (CGC) as a “Hold” at a consensus score of 3.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 14 advise that investors “hold,” and 4 rated it as a “Sell.”
