Canopy Growth Corporation [NASDAQ: CGC] jumped around 0.26 points on Thursday, while shares priced at $3.60 at the close of the session, up 7.78%. 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.
Canopy Growth Corporation stock is now -58.76% down from its year-to-date (YTD) trading value. CGC Stock saw the intraday high of $3.61 and lowest of $3.30 per share. The company’s 52-week high price is 25.59, which means current price is +11.11% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 7.41M shares, CGC reached a trading volume of 4550575 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]?
BMO Capital Markets have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on June 08, 2022. The new note on the price target was released on March 22, 2022, representing the official price target for Canopy Growth Corporation stock. On December 20, 2021, analysts decreased their price target for CGC shares from 11 to 7.
The Average True Range (ATR) for Canopy Growth Corporation is set at 0.35, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 2.54. The Price to Book ratio for the last quarter was 0.33.
How has CGC stock performed recently?
Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.27. With this latest performance, CGC shares dropped by -30.64% in over the last four-week period, additionally sinking by -62.73% over the last 6 months – not to mention a drop of -84.73% 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 38.91, with the RSI for the last a single of trading hit 41.53, and the three-weeks RSI is set at 38.75 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 5.10, while it was recorded at 3.41 for the last single week of trading, and 8.92 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 -111.20 and a Gross Margin at -25.66. Canopy Growth Corporation’s Net Margin is presently recorded at -58.08.
Return on Equity for this stock declined to -8.55, with Return on Assets sitting at -4.82.
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 $203 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 $24.47 million in CGC stocks shares; and D. E. SHAW & CO., INC., currently with $13.61 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 134 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 12,591,028 shares. Additionally, 173 investors decreased positions by around 17,674,139 shares, while 148 investors held positions by with 30,394,821 shares. The mentioned changes placed institutional holdings at 60,659,988 shares, according to the latest SEC report filing. CGC stock had 47 new institutional investments in for a total of 1,785,746 shares, while 74 institutional investors sold positions of 3,551,191 shares during the same period.