Canopy Growth Corporation [CGC] is 0.23% higher this YTD. Is it still time to buy?

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Canopy Growth Corporation [NASDAQ: CGC] surged by $0.23 during the normal trading session on Monday and reaching a high of $8.8501 during the day while it closed the day at $8.75. The company report on January 5, 2022 that Canopy Growth Issues Environmental, Social, and Governance Report.

The inaugural report details the Company’s commitment to building a responsible and sustainable organization defined by purpose.


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Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announced the release of its Environmental, Social, and Governance (ESG) Report (“the Report”) for calendar year 2020, as well as qualitative details on some key activities that occurred in 2021. The Report recognizes Canopy’s current progress and describes its priorities and approach to ESG as part of its long-term path towards responsible and sustainable growth.

Canopy Growth Corporation stock has also loss -5.91% of its value over the past 7 days. However, CGC stock has declined by -32.95% in the 3 months of the year. Over the past six months meanwhile, it has lost -60.43% and gained 0.23% year-on date.

The market cap for CGC stock reached $3.44 billion, with 393.71 million shares outstanding and 251.31 million shares in the current float. Compared to the average trading volume of 7.44M shares, CGC reached a trading volume of 7503204 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Canopy Growth Corporation [CGC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGC shares is $12.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CGC stock is a recommendation set at 3.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.66, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 6.06. The Price to Book ratio for the last quarter was 0.81.

CGC stock trade performance evaluation

Canopy Growth Corporation [CGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.91. With this latest performance, CGC shares dropped by -14.22% in over the last four-week period, additionally sinking by -60.43% over the last 6 months – not to mention a drop of -72.20% 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 41.96, with the RSI for the last a single of trading hit 44.32, and the three-weeks RSI is set at 40.99 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 10.89, while it was recorded at 8.56 for the last single week of trading, and 18.33 for the last 200 days.

Canopy Growth Corporation [CGC]: An insightful look at the core 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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Canopy Growth Corporation [CGC]: Insider Ownership positions

There are presently around $504 million, or 17.15% 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 $47.83 million in CGC stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $28.0 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 February and at the time of the February reporting period, where 176 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 8,698,795 shares. Additionally, 160 investors decreased positions by around 7,182,087 shares, while 130 investors held positions by with 41,741,603 shares. The mentioned changes placed institutional holdings at 57,622,485 shares, according to the latest SEC report filing. CGC stock had 51 new institutional investments in for a total of 1,071,988 shares, while 67 institutional investors sold positions of 1,840,164 shares during the same period.