Why Should You Put Canopy Growth Corporation (NASDAQ: CGC) On Your Portfolio?

Currently, there are 91.11M common shares owned by the public and among those 73.89M shares have been available to trade.

However, the script later moved the day high at 10.13, down -9.63%. The company’s stock has a 5-day price change of 89.25% and 65.64% over the past three months. CGC shares are trading 68.88% year to date (YTD), with the 12-month market performance down to -52.32% lower. It has a 12-month low price of $2.76 and touched a high of $19.20 over the same period. CGC has an average intraday trading volume of 6.96 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 106.98%, 107.80%, and 57.68% respectively.

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Institutional ownership of Canopy Growth Corporation (NASDAQ: CGC) shares accounts for 6.72% of the company’s 91.11M shares outstanding.

It has a market capitalization of $786.28M and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$16.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 41.77% over the week and 17.58% over the month.

Analysts forecast that Canopy Growth Corporation (CGC) will achieve an EPS of -$0.32 for the current quarter, -$0.29 for the next quarter and -$1.07 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.58 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$9.46 a year ago. Earnings per share for the fiscal year are expected to increase by 90.94%, and 83.41% 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.

Bernstein coverage for the Canopy Growth Corporation (CGC) stock in a research note released on November 02, 2022 offered a Underperform rating with a price target of $1.50. Barclays on their part issued Underweight rating on March 22, 2022.

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