Canopy Growth Corporation [CGC] is -17.41% lower this YTD. Is it still time to buy?


Canopy Growth Corporation [NASDAQ: CGC] gained 2.71% or 0.19 points to close at $7.21 with a heavy trading volume of 5923158 shares. The company report on March 22, 2022 that CANOPY GROWTH SHINES A LIGHT ON MENSTRUAL HEALTH THROUGH CBD EFFICACY STUDY.

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Study completed in collaboration with James Madison University reveals new ways to address menstrual-related symptoms with cannabis.

Canopy Growth Corporation’s (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) scientific research team has announced positive results from a six-month, randomized clinical trial studying the effects of cannabidiol (CBD) on menstrual-related symptoms. This study was conducted in collaboration with Dr. Jessica G. Irons and Morgan L. Ferretti at James Madison University in Harrisonburg, Virginia. Nearly 75% of reproductive-aged menstruating individuals report experiencing unpleasant menstrual-related symptoms, ranging from cramping and bloating to back pain and shifts in mood including irritability and stress. This study marks the first exploration of the effects of cannabinoids for symptom management.

It opened the trading session at $6.80, the shares rose to $7.27 and dropped to $6.80, the range by which the price of stock traded the whole day. The daily chart for CGC points out that the company has recorded -46.67% loss over the past six months. However, it is still -28.29% lower than its most recent low trading price.

If we look at the average trading volume of 6.84M shares, CGC reached to a volume of 5923158 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]:

Barclays have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 22, 2022. The new note on the price target was released on December 22, 2021, representing the official price target for Canopy Growth Corporation stock. Previously, the target price had yet another drop from $11 to $7, while Piper Sandler kept a Underweight rating on CGC stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 0.52, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 4.99. The Price to Book ratio for the last quarter was 0.67.

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 22.83. With this latest performance, CGC shares dropped by -6.36% in over the last four-week period, additionally sinking by -46.67% over the last 6 months – not to mention a drop of -77.78% 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 52.83, with the RSI for the last a single of trading hit 59.41, and the three-weeks RSI is set at 49.19 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 7.48, while it was recorded at 6.90 for the last single week of trading, and 13.70 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.

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.

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

There are presently around $461 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 7,604,274, which is approximately 2.795% of the company’s market cap and around 36.24% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 6,052,662 shares of the stock with an approximate value of $42.49 million in CGC stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $36.13 million in CGC stock with ownership of nearly 167.776% 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 158 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 14,500,758 shares. Additionally, 199 investors decreased positions by around 6,482,778 shares, while 109 investors held positions by with 44,672,981 shares. The mentioned changes placed institutional holdings at 65,656,517 shares, according to the latest SEC report filing. CGC stock had 67 new institutional investments in for a total of 2,646,476 shares, while 62 institutional investors sold positions of 1,351,687 shares during the same period.