Canopy Growth Corporation [CGC] Revenue clocked in at $300.24 million, down -72.81% YTD: What’s Next?

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Canopy Growth Corporation [NASDAQ: CGC] price surged by 6.08 percent to reach at $0.04. The company report on October 26, 2023 at 7:30 AM that Canopy Growth to Report Second Quarter Fiscal 2024 Financial Results on November 9, 2023.

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the second quarter fiscal year 2024 ended September 30, 2023 after markets close on November 9, 2023.

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Following the release of its second quarter fiscal year 2024 financial results, Canopy Growth will host an audio webcast with David Klein, CEO and Judy Hong, CFO on November 9, at 5:30 PM Eastern Time.

A sum of 27786361 shares traded at recent session while its average daily volume was at 51.55M shares. Canopy Growth Corporation shares reached a high of $0.667 and dropped to a low of $0.607 until finishing in the latest session at $0.63.

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The one-year CGC stock forecast points to a potential upside of 28.41. The average equity rating for CGC stock is currently 3.50, trading closer to a bullish pattern in the stock market.

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 $0.88 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 3.50. 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 Mkt Perform, with their previous recommendation back on April 04, 2023.

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The Average True Range (ATR) for Canopy Growth Corporation is set at 0.09, with the Price to Sales ratio for CGC stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 0.58.

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 23.94. With this latest performance, CGC shares dropped by -11.39% in over the last four-week period, additionally sinking by -53.13% over the last 6 months – not to mention a drop of -80.56% 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 49.46, with the RSI for the last a single of trading hit 54.37, and the three-weeks RSI is set at 48.61 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 0.7477, while it was recorded at 0.5712 for the last single week of trading, and 1.1816 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 -115.50 and a Gross Margin at -12.89. Canopy Growth Corporation’s Net Margin is presently recorded at -813.63.

Return on Total Capital for CGC is now -12.50, given the latest momentum, and Return on Invested Capital for the company is -96.82. Return on Equity for this stock declined to -150.78, with Return on Assets sitting at -80.98. When it comes to the capital structure of this company, Canopy Growth Corporation [CGC] has a Total Debt to Total Equity ratio set at 186.73. Additionally, CGC Total Debt to Total Capital is recorded at 65.12, with Total Debt to Total Assets ending up at 57.60. Long-Term Debt to Equity for the company is recorded at 109.52, with the Long-Term Debt to Total Capital now at 38.20.

Reflecting on the efficiency of the workforce at the company, Canopy Growth Corporation [CGC] managed to generate an average of -$2,022,306 per employee. Receivables Turnover for the company is 4.23 with a Total Asset Turnover recorded at a value of 0.10.Canopy Growth Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.64 and a Current Ratio set at 1.96.


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 13.28%.

Canopy Growth Corporation [CGC] Institutonal Ownership Details

The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CGC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CGC stock with ownership which is approximately 5.7994%.

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