Market cap of Canopy Growth Corporation [CGC] reaches 5.68B – now what?

Canopy Growth Corporation [NASDAQ: CGC] price surged by 0.27 percent to reach at $0.04. The company report on September 15, 2021 that Canopy Growth Announces Results of Annual General and Special Shareholder Meeting.

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Company”) announced the voting results from its annual general and special meeting of shareholders held on September 14, 2021 (the “Meeting”).

A total of 259,521,246 common shares of the Company, representing 66.01 % of the issued and outstanding common shares of the Company, were voted in connection with the Meeting by shareholders and proxy holders.

A sum of 2677867 shares traded at recent session while its average daily volume was at 3.07M shares. Canopy Growth Corporation shares reached a high of $15.05 and dropped to a low of $14.65 until finishing in the latest session at $14.83.

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

Jefferies have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 12, 2021. The new note on the price target was released on June 02, 2021, representing the official price target for Canopy Growth Corporation stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 0.68, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 9.92. The Price to Book ratio for the last quarter was 1.63.

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 -5.72. With this latest performance, CGC shares dropped by -15.06% in over the last four-week period, additionally sinking by -55.56% over the last 6 months – not to mention a drop of -10.01% 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 28.45, with the RSI for the last a single of trading hit 25.59, and the three-weeks RSI is set at 30.67 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 18.26, while it was recorded at 14.88 for the last single week of trading, and 26.80 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 -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.

Reflecting on the efficiency of the workforce at the company, Canopy Growth Corporation [CGC] managed to generate an average of -$535,416 per employee. Receivables Turnover for the company is 5.99 with a Total Asset Turnover recorded at a value of 0.08.

Canopy Growth Corporation [CGC] Insider Position Details

There are presently around $833 million, or 16.77% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 7,075,332, which is approximately 5.021% of the company’s market cap and around 36.29% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 5,180,532 shares of the stock with an approximate value of $76.83 million in CGC stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $46.52 million in CGC stock with ownership of nearly 86.721% 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 August and at the time of the August reporting period, where 188 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 12,018,413 shares. Additionally, 168 investors decreased positions by around 4,578,834 shares, while 139 investors held positions by with 39,560,611 shares. The mentioned changes placed institutional holdings at 56,157,858 shares, according to the latest SEC report filing. CGC stock had 49 new institutional investments in for a total of 3,261,347 shares, while 73 institutional investors sold positions of 973,389 shares during the same period.

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