Canopy Growth Corporation [CGC] Stock trading around $9.45 per share: What’s Next?


Canopy Growth Corporation [NASDAQ: CGC] traded at a low on 12/27/21, posting a -1.77 loss after which it closed the day’ session at $9.45. The company report on December 15, 2021 that Canopy Growth Divests Pharmaceutical C3 Cannabinoid Compound Company.

Sale supports the Company’s strategic focus on driving demand for cannabis and cannabinoid-based consumer products.

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Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) has entered into an agreement to divest its subsidiary business, C³ Cannabinoid Compound Company GmbH (“C3”), to Dermapharm Holding SE (“Dermapharm”) (WKN: A2GS5D, ISIN: DE000A2GS5D8), a European pharmaceutical company headquartered in Grünwald, Germany. The C³ business develops and manufactures pharmaceutical products and is comprised of Spectrum Therapeutics GmbH, based in Neumarkt-in-der-Oberpfalz, Germany, THC Pharm GmbH The Health Concept, based in Frankfurt, Germany, and Spectrum Therapeutics Austria GmbH, based in Vienna, Austria.

The results of the trading session contributed to over 5417305 shares changing hands. Over the past one week, the price volatility of Canopy Growth Corporation stands at 6.49% while the volatility over the past one month is 7.20%.

The market cap for CGC stock reached $3.62 billion, with 382.98 million shares outstanding and 251.31 million shares in the current float. Compared to the average trading volume of 6.96M shares, CGC reached a trading volume of 5417305 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]?

BofA Securities have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 22, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $11 to $7. The new note on the price target was released on December 20, 2021, representing the official price target for Canopy Growth Corporation stock. Previously, the target price had yet another raise to $8, while Wells Fargo analysts kept a Underweight rating on CGC stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 0.73, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 6.37. The Price to Book ratio for the last quarter was 1.04.

How has CGC stock performed recently?

Canopy Growth Corporation [CGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.46. With this latest performance, CGC shares dropped by -20.39% in over the last four-week period, additionally sinking by -62.02% over the last 6 months – not to mention a drop of -63.46% 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 41.30, with the RSI for the last a single of trading hit 43.37, and the three-weeks RSI is set at 40.64 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 11.84, while it was recorded at 9.37 for the last single week of trading, and 19.57 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 -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.

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Insider trade positions for Canopy Growth Corporation [CGC]

There are presently around $554 million, or 17.11% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 7,397,530, which is approximately 4.554% of the company’s market cap and around 36.24% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 5,465,762 shares of the stock with an approximate value of $52.58 million in CGC stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $30.79 million in CGC stock with ownership of nearly 56.255% of the company’s market capitalization.

Positions in Canopy Growth Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 176 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 8,712,094 shares. Additionally, 157 investors decreased positions by around 7,166,768 shares, while 133 investors held positions by with 41,753,104 shares. The mentioned changes placed institutional holdings at 57,631,966 shares, according to the latest SEC report filing. CGC stock had 49 new institutional investments in for a total of 1,052,168 shares, while 66 institutional investors sold positions of 1,842,493 shares during the same period.