Canopy Growth Corporation [CGC] Stock trading around $25.74 per share: What’s Next?

Canopy Growth Corporation [NASDAQ: CGC] gained 0.90% on the last trading session, reaching $25.74 price per share at the time. The company report on June 1, 2021 that Canopy Growth Reports Fourth Quarter and Fiscal Year 2021 Financial Results.

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Achieves 37% revenue growth in FY 2021 with strong double-digit growth across both cannabis and other consumer products businesses.

Improved supply chain execution and quality enhancements are leading to commercial success.

Canopy Growth Corporation represents 382.32 million in outstanding shares, while the company has a total market value of $9.84 billion with the latest information. CGC stock price has been found in the range of $25.52 to $26.80.

If compared to the average trading volume of 3.62M shares, CGC reached a trading volume of 4580292 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Canopy Growth Corporation [CGC]:

Canaccord Genuity have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 02, 2021. The new note on the price target was released on May 25, 2021, representing the official price target for Canopy Growth Corporation stock. Previously, the target price had yet another raise to $45, while BofA Securities analysts kept a Buy rating on CGC stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 1.37, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 19.44. The Price to Book ratio for the last quarter was 2.43.

Trading performance analysis for CGC stock

Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.63. With this latest performance, CGC shares gained by 6.45% in over the last four-week period, additionally sinking by -9.30% over the last 6 months – not to mention a rise of 45.18% 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 53.16, with the RSI for the last a single of trading hit 57.56, and the three-weeks RSI is set at 49.75 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 26.23, while it was recorded at 25.28 for the last single week of trading, and 26.47 for the last 200 days.

Canopy Growth Corporation [CGC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Canopy Growth Corporation [CGC] shares currently have an operating margin of -102.46 and a Gross Margin at +3.23. Canopy Growth Corporation’s Net Margin is presently recorded at -319.20.

Return on Total Capital for CGC is now -10.05, given the latest momentum, and Return on Invested Capital for the company is -32.91. Return on Equity for this stock declined to -41.70, with Return on Assets sitting at -25.36. When it comes to the capital structure of this company, Canopy Growth Corporation [CGC] has a Total Debt to Total Equity ratio set at 49.38. Additionally, CGC Total Debt to Total Capital is recorded at 33.05, with Total Debt to Total Assets ending up at 24.89. Long-Term Debt to Equity for the company is recorded at 47.89, with the Long-Term Debt to Total Capital now at 32.06.

Receivables Turnover for the company is 5.99 with a Total Asset Turnover recorded at a value of 0.08.

An analysis of insider ownership at Canopy Growth Corporation [CGC]

There are presently around $1,256 million, or 15.12% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 6,737,036, which is approximately 2.465% of the company’s market cap and around 38.58% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 3,165,984 shares of the stock with an approximate value of $81.49 million in CGC stocks shares; and ROYAL BANK OF CANADA, currently with $72.0 million in CGC stock with ownership of nearly 106.923% 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 June and at the time of the June reporting period, where 227 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 10,773,643 shares. Additionally, 160 investors decreased positions by around 8,621,853 shares, while 115 investors held positions by with 29,403,795 shares. The mentioned changes placed institutional holdings at 48,799,291 shares, according to the latest SEC report filing. CGC stock had 76 new institutional investments in for a total of 2,407,353 shares, while 53 institutional investors sold positions of 2,700,643 shares during the same period.

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