Wall Street Analyst Downgrade Canopy Growth Corporation [CGC]. What else is Wall St. saying



Canopy Growth Corporation [NASDAQ: CGC] loss -0.97% on the last trading session, reaching $2.54 price per share at the time. The company report on July 22, 2022 that Canopy Growth to Report First Quarter Fiscal 2023 Financial Results on August 5, 2022.

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Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the first quarter fiscal year 2023 ended June 30, 2022 before financial markets open on August 5, 2022.

Following the release of its first quarter fiscal year 2023 financial results, Canopy Growth will host an audio webcast with David Klein, CEO and Judy Hong, CFO on August 5, 2022, at 10:00 AM ET.

Canopy Growth Corporation represents 393.71 million in outstanding shares, while the company has a total market value of $1.00 billion with the latest information. CGC stock price has been found in the range of $2.45 to $2.62.

If compared to the average trading volume of 8.29M shares, CGC reached a trading volume of 10470138 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]:

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 0.30, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 0.24.

Trading performance analysis for CGC stock

Canopy Growth Corporation [CGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.93. With this latest performance, CGC shares dropped by -29.44% in over the last four-week period, additionally sinking by -65.16% over the last 6 months – not to mention a drop of -87.05% 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 40.25, with the RSI for the last a single of trading hit 42.77, and the three-weeks RSI is set at 39.01 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 3.80, while it was recorded at 2.70 for the last single week of trading, and 7.72 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 -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.

Canopy Growth Corporation [CGC]: An earnings per share (EPS) analysis

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%.

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

There are presently around $154 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 $18.61 million in CGC stocks shares; and D. E. SHAW & CO., INC., currently with $10.35 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 August and at the time of the August reporting period, where 138 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 12,763,811 shares. Additionally, 174 investors decreased positions by around 17,489,656 shares, while 136 investors held positions by with 30,572,656 shares. The mentioned changes placed institutional holdings at 60,826,123 shares, according to the latest SEC report filing. CGC stock had 52 new institutional investments in for a total of 1,827,104 shares, while 71 institutional investors sold positions of 3,467,800 shares during the same period.