Canopy Growth Corporation [CGC] Is Currently -9.42 below its 200 Period Moving Avg: What Dose This Mean?

Canopy Growth Corporation [NASDAQ: CGC] stock went on a downward path that fall over -9.42% on Thursday, amounting to a one-week price decrease of less than -29.75%. The company report on February 19, 2021 that Rivers Obtains Court Approval of the Arrangement with Canopy Growth.

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Canopy Rivers Inc. (“Rivers” or the “Company”) announced that the Ontario Superior Court of Justice (Commercial List) has approved the previously announced plan of arrangement (the “Arrangement”) involving Canopy Growth Corporation (“Canopy Growth”) (TSX: WEED) (NASDAQ: CGC), pursuant to which Rivers will transfer three portfolio assets to Canopy Growth in exchange for approximately $115 million in cash, approximately 3.65 million common shares of Canopy Growth, and the cancellation of all multiple voting shares and subordinate voting shares of Rivers held by Canopy Growth.

Completion of the Arrangement remains subject to the satisfaction or waiver of certain customary closing conditions for a transaction of this nature. Assuming the satisfaction or waiver of these closing conditions, the Arrangement is expected to be completed on or about February 23, 2021. Further information about the Arrangement can be found in the Company’s management information circular in connection with the Arrangement, filed with the Canadian securities regulators and available on the Company’s SEDAR profile and www.canopyrivers.com/investors.

Over the last 12 months, CGC stock rose by 68.35%.

The market cap for the stock reached $13.81 billion, with 376.84 million shares outstanding and 229.74 million shares in the current float. Compared to the average trading volume of 7.09M shares, CGC stock reached a trading volume of 8151029 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Canopy Growth Corporation [CGC]:

The Benchmark Company have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 10, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for Canopy Growth Corporation stock. Previously, the target price had yet another raise to $27, while Piper Sandler analysts kept a Neutral rating on CGC stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 3.67 The Price to Book ratio for the last quarter was 6.93.

CGC Stock Performance Analysis:

Canopy Growth Corporation [CGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.75. With this latest performance, CGC shares gained by 9.21% in over the last four-week period, additionally plugging by 116.61% over the last 6 months – not to mention a rise of 68.35% 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 46.48, with the RSI for the last a single of trading hit 40.48, and the three-weeks RSI is set at 50.20 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 33.18, while it was recorded at 40.04 for the last single week of trading, and 21.96 for the last 200 days.

Insight into Canopy Growth Corporation 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 Position Details

There are presently around $1,701 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 6,574,976, which is approximately 0.479% of the company’s market cap and around 39.05% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 2,955,631 shares of the stock with an approximate value of $108.32 million in CGC stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $100.95 million in CGC stock with ownership of nearly -7.455% of the company’s market capitalization.

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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 245 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 11,731,154 shares. Additionally, 109 investors decreased positions by around 3,125,291 shares, while 107 investors held positions by with 31,562,263 shares. The mentioned changes placed institutional holdings at 46,418,708 shares, according to the latest SEC report filing. CGC stock had 122 new institutional investments in for a total of 5,134,441 shares, while 37 institutional investors sold positions of 1,216,079 shares during the same period.

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