Jefferies slashes price target on Canopy Growth Corporation [CGC] – find out why.

Canopy Growth Corporation [NASDAQ: CGC] traded at a high on 03/11/21, posting a 7.43 gain after which it closed the day’ session at $34.28. The company report on March 4, 2021 that Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021.

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Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET.

The presentation will be conducted by live webcast, and will be accessible through the company’s website at https://www.canopygrowth.com/investors/investor-events/. A replay option will be available on the company’s website until September 7, 2021 for those that cannot participate in the live event.

The results of the trading session contributed to over 4397119 shares changing hands. Over the past one week, the price volatility of Canopy Growth Corporation stands at 7.69% while the volatility over the past one month is 9.25%.

The market cap for CGC stock reached $13.04 billion, with 380.49 million shares outstanding and 231.64 million shares in the current float. Compared to the average trading volume of 7.07M shares, CGC reached a trading volume of 4397119 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Canopy Growth Corporation [CGC]?

Jefferies have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on February 24, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for Canopy Growth Corporation stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 3.26 The Price to Book ratio for the last quarter was 6.49.

How has CGC stock performed recently?

Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.54. With this latest performance, CGC shares dropped by -30.17% in over the last four-week period, additionally plugging by 109.54% over the last 6 months – not to mention a rise of 156.78% 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 48.02, with the RSI for the last a single of trading hit 49.27, and the three-weeks RSI is set at 48.99 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 35.38, while it was recorded at 32.24 for the last single week of trading, and 23.28 for the last 200 days.

Canopy Growth Corporation [CGC]: Deeper insight into the 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.

Insider trade positions for Canopy Growth Corporation [CGC]

There are presently around $1,602 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 $101.32 million in CGC stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $94.42 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 253 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 12,028,581 shares. Additionally, 109 investors decreased positions by around 3,118,286 shares, while 105 investors held positions by with 31,572,276 shares. The mentioned changes placed institutional holdings at 46,719,143 shares, according to the latest SEC report filing. CGC stock had 127 new institutional investments in for a total of 5,271,018 shares, while 38 institutional investors sold positions of 1,216,759 shares during the same period.

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