Canopy Growth Corporation [NASDAQ: CGC] closed the trading session at $41.72 on 02/02/21. The day’s price range saw the stock hit a low of $40.50, while the highest price level was $42.84. The company report on January 27, 2021 that Canopy Growth to Report Third Quarter Fiscal 2021 Financial Results on February 9, 2021.
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.
Following the release of its third quarter fiscal 2021 financial results, Canopy Growth will host an audio webcast with David Klein, CEO and Mike Lee, EVP & CFO at 10:00 AM Eastern Time on February 9, 2021.
The stocks have a year to date performance of 69.30 percent and weekly performance of 17.44 percent. The stock has been moved at 118.86 percent over the last six months. The stock has performed 69.30 percent around the most recent 30 days and changed 122.12 percent over the most recent 3-months.
If compared to the average trading volume of 7.14M shares, CGC reached to a volume of 7129221 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Canopy Growth Corporation [CGC]:
CFRA have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on September 04, 2020. The new note on the price target was released on June 01, 2020, representing the official price target for Canopy Growth Corporation stock.
The Average True Range (ATR) for Canopy Growth Corporation is set at 2.17 The Price to Book ratio for the last quarter was 7.89.
CGC stock trade performance evaluation
Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.44. With this latest performance, CGC shares gained by 69.30% in over the last four-week period, additionally plugging by 118.86% over the last 6 months – not to mention a rise of 88.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGC stock in for the last two-week period is set at 80.10, with the RSI for the last a single of trading hit 84.72, and the three-weeks RSI is set at 76.40 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 29.55, while it was recorded at 40.00 for the last single week of trading, and 20.44 for the last 200 days.
Canopy Growth Corporation [CGC]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Canopy Growth Corporation [CGC] shares currently have an operating margin of -257.00 and a Gross Margin at -25.93. Canopy Growth Corporation’s Net Margin is presently recorded at -331.35.
Return on Total Capital for CGC is now -14.65, given the latest momentum, and Return on Invested Capital for the company is -19.95. Return on Equity for this stock declined to -22.32, with Return on Assets sitting at -16.90. When it comes to the capital structure of this company, Canopy Growth Corporation [CGC] has a Total Debt to Total Equity ratio set at 12.81. Additionally, CGC Total Debt to Total Capital is recorded at 11.35, with Total Debt to Total Assets ending up at 9.13. Long-Term Debt to Equity for the company is recorded at 11.65, with the Long-Term Debt to Total Capital now at 10.32.
Reflecting on the efficiency of the workforce at the company, Canopy Growth Corporation [CGC] managed to generate an average of -$297,999 per employee. Receivables Turnover for the company is 4.05 with a Total Asset Turnover recorded at a value of 0.05.
Canopy Growth Corporation [CGC]: Insider Ownership positions
There are presently around $1,592 million, or 12.51% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 6,543,642, which is approximately 1.971% of the company’s market cap and around 39.05% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 2,976,355 shares of the stock with an approximate value of $124.16 million in CGC stocks shares; and ETF MANAGERS GROUP, LLC, currently with $109.19 million in CGC stock with ownership of nearly -2.395% of the company’s market capitalization.
Positions in Canopy Growth Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 179 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 6,040,824 shares. Additionally, 132 investors decreased positions by around 2,490,640 shares, while 105 investors held positions by with 29,637,861 shares. The mentioned changes placed institutional holdings at 38,169,325 shares, according to the latest SEC report filing. CGC stock had 70 new institutional investments in for a total of 865,304 shares, while 54 institutional investors sold positions of 633,772 shares during the same period.