With over 4.2 million Canopy Growth Corporation (CGC) shares trading Tuesday and a closing price of $5.66 on the day, the dollar volume was approximately $23.75 million. The shares have shown a positive half year performance of 19.41% and its price on 12/26/23 gained nearly 10.12%. Currently, there are 82.91M common shares owned by the public and among those 65.17M 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: 15 analysts who have offered their price forecasts for CGC have a consensus price objective of $17.79. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $5.00. The average price target is 57.12% above its recent price level and a downside to the estimated low will see the stock lose -13.2% over that period. But an upside of 94.34% will see the stock hit the forecast high price target while median target price for the stock is $7.30.
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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.
Shares of Canopy Growth Corporation (NASDAQ: CGC) opened at $5.18, up $0.04 from a prior closing price of $5.14. However, the script later moved the day high at 5.93, up 10.12%. The company’s stock has a 5-day price change of 15.89% and -38.63% over the past three months. CGC shares are trading -75.50% year to date (YTD), with the 12-month market performance down to -75.28% lower. It has a 12-month low price of $3.46 and touched a high of $32.20 over the same period. CGC has an average intraday trading volume of 3.33 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 -5.26%, -2.51%, and -33.31% respectively.
Institutional ownership of Canopy Growth Corporation (NASDAQ: CGC) shares accounts for 9.99% of the company’s 82.91M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $469.27M and a beta (3y monthly) value of 1.58. The earnings-per-share (ttm) stands at -$18.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.30% over the week and 13.85% over the month.
Analysts forecast that Canopy Growth Corporation (CGC) will achieve an EPS of -$0.38 for the current quarter, -$0.36 for the next quarter and -$1.01 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.64 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$4.06 a year ago. Earnings per share for the fiscal year are expected to increase by 94.14%, and 59.16% 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 15 brokerage firm advisors rate Canopy Growth Corporation (CGC) as a “Hold” at a consensus score of 3.47. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 9 of the 15 advise that investors “hold,” and 4 rated it as a “Sell.”
