Canopy Growth Corporation (NASDAQ:CGC) traded at $8.75 at close of the session on Monday, 01/10/22, made an upward move of 2.70% on its previous day’s price.
Looking at the stock we see that its previous close was $8.52 and the beta (5Y monthly) reads 1.96 with the day’s price range being $8.415 – $8.8501. In terms of its 52-week price range, CGC has a high of $56.50 and a low of $7.96. The company’s stock has lost about -14.22% over that past 30 days.
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Canopy Growth Corporation has a market cap of $3.44 billion and is expected to release its quarterly earnings report on Feb 09, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.23, with the EPS growth for the year raised at $0.3 for 2022 and -$0.56 for next year. These figures represent 108.20% and -286.70% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $113.96 million, with a low of $103.9 million and a high of $126.7 million.
There have been 2 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CGC stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Based on estimates by 21 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 12 have rated the Canopy Growth Corporation (CGC) stock as a Hold, while 2 rate it as a Buy. 0 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 6 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is -3.68% off its SMA20 and -20.29% from its 50-day simple moving average. The RSI (14) is pointing at 41.96 while the volatility over the past week is 7.18% and jumps to 7.00% over the past one month. The average price target for the stock over the next 12 months is $11.18, with the estimates having a low of $7.00 and a high of $22.50. These price ends are 20.0% and -157.14% off the current price level respectively, although investors could be excited at the prospect of a -9.37% if the CGC share price touches on the median price of $9.57.
Let’s briefly compare Canopy Growth Corporation (CGC) stock to its peers. We find that current price change of 2.70% and -72.20% over the past 12 months for CGC competes that of The Simply Good Foods Company (SMPL), which has seen its stock price fall -4.17% in the last trading session and was 28.00% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.14% and -0.45%, respectively, at close of the trading.
Coming back to Canopy Growth Corporation (NASDAQ:CGC), we note that the average 3-month trading volume was 7.44 million, while that of the preceding 10-day period stands at 7.09 million. Current shares outstanding are 393.71 million.
The insiders hold 36.24% of the company’s shares while institutions hold 17.15%. The data shows that short shares as of Dec 14, 2021, stood at 44.58 million at a short ratio of 5.42. This represents a 11.32% short interest in shares outstanding on Dec 14, 2021. Shares short rose in December from the previous month at 36.52 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 0.23% up in year-to-date price movement.