Canopy Growth Corporation [CGC] is -50.86% lower this YTD. Is it still time to buy?

Canopy Growth Corporation [NASDAQ: CGC] stock went on an upward path that rose over 9.16% on Friday, amounting to a one-week price increase of more than 17.21%. The company report on November 22, 2022 that High Tide Becomes Top Revenue-Generating Cannabis Company in Canada.

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The Company also opens a second Canna Cabana location in Windsor, Ontario.

Over the last 12 months, CGC stock dropped by -58.59%. The one-year Canopy Growth Corporation stock forecast points to a potential upside of 18.44. The average equity rating for CGC stock is currently 3.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.08 billion, with 485.93 million shares outstanding and 310.35 million shares in the current float. Compared to the average trading volume of 13.96M shares, CGC stock reached a trading volume of 35268438 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $5.26 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 3.90. 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.

Bernstein have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on November 02, 2022. The new note on the price target was released on October 26, 2022, representing the official price target for Canopy Growth Corporation stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 0.39, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 4.34. The Price to Book ratio for the last quarter was 1.27.

CGC Stock Performance Analysis:

Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.21. With this latest performance, CGC shares gained by 32.82% in over the last four-week period, additionally sinking by -0.69% over the last 6 months – not to mention a drop of -58.59% 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 64.12, with the RSI for the last a single of trading hit 68.98, and the three-weeks RSI is set at 60.93 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 3.19, while it was recorded at 3.73 for the last single week of trading, and 4.37 for the last 200 days.

Insight into Canopy Growth Corporation 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.

CGC Stock EPS

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 8.78%.

Canopy Growth Corporation [CGC] Insider Position Details

There are presently around $329 million, or 17.65% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: CONTRARIUS INVESTMENT MANAGEMENT LTD with ownership of 19,738,183, which is approximately New of the company’s market cap and around 35.79% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 10,963,644 shares of the stock with an approximate value of $47.03 million in CGC stocks shares; and VANGUARD GROUP INC, currently with $43.9 million in CGC stock with ownership of nearly 26.339% of the company’s market capitalization.

Positions in Canopy Growth Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 124 institutional holders increased their position in Canopy Growth Corporation [NASDAQ:CGC] by around 36,095,337 shares. Additionally, 133 investors decreased positions by around 9,337,579 shares, while 140 investors held positions by with 31,157,644 shares. The mentioned changes placed institutional holdings at 76,590,560 shares, according to the latest SEC report filing. CGC stock had 32 new institutional investments in for a total of 22,881,629 shares, while 50 institutional investors sold positions of 2,437,384 shares during the same period.

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