Canopy Growth Corporation [CGC] Stock trading around $4.09 per share: What’s Next?


Canopy Growth Corporation [NASDAQ: CGC] traded at a low on 06/06/22, posting a -5.32 loss after which it closed the day’ session at $4.09. The company report on May 27, 2022 that Canopy Growth Corporation Reports Fourth Quarter and Fiscal year 2022 Financial Results.

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Company Advances Premium Brand Driven Strategy, Laying a Foundation for Long-Term Sustainable Growth and Profitability .

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announces its financial results for the fourth quarter and fiscal year ended March 31, 2022. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

The results of the trading session contributed to over 9287090 shares changing hands. Over the past one week, the price volatility of Canopy Growth Corporation stands at 8.40% while the volatility over the past one month is 9.31%.

The market cap for CGC stock reached $1.61 billion, with 393.71 million shares outstanding and 251.80 million shares in the current float. Compared to the average trading volume of 7.47M shares, CGC reached a trading volume of 9287090 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]?

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 0.49, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 2.89. The Price to Book ratio for the last quarter was 0.38.

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 -16.19. With this latest performance, CGC shares dropped by -32.62% in over the last four-week period, additionally sinking by -59.06% over the last 6 months – not to mention a drop of -84.05% 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 34.27, with the RSI for the last a single of trading hit 30.04, and the three-weeks RSI is set at 36.80 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 6.04, while it was recorded at 4.56 for the last single week of trading, and 9.74 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.

Earnings analysis for Canopy Growth Corporation [CGC]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CGC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Canopy Growth Corporation go to 33.40%.

Insider trade positions for Canopy Growth Corporation [CGC]

There are presently around $262 million, or 18.79% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 7,878,052, which is approximately 3.6% of the company’s market cap and around 36.20% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 7,325,327 shares of the stock with an approximate value of $31.64 million in CGC stocks shares; and D. E. SHAW & CO., INC., currently with $17.6 million in CGC stock with ownership of nearly 138.355% of the company’s market capitalization.

Positions in Canopy Growth Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 132 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 12,556,488 shares. Additionally, 174 investors decreased positions by around 17,685,015 shares, while 148 investors held positions by with 30,373,069 shares. The mentioned changes placed institutional holdings at 60,614,572 shares, according to the latest SEC report filing. CGC stock had 46 new institutional investments in for a total of 1,784,576 shares, while 75 institutional investors sold positions of 3,562,067 shares during the same period.