Canopy Growth Corporation (NASDAQ:CGC) traded at $8.32 at close of the session on Monday, April 29, made a downward move of -6.62% on its previous day’s price.
Looking at the stock we see that its previous close was $8.91. In terms of its 52-week price range, CGC has a high of $19.20 and a low of $2.76. The company’s stock has lost about -3.59% over that past 30 days.
Canopy Growth Corporation has a market cap of $758.04 million. Estimates by analysts give the company expected earnings per share (EPS) of -$0.32, with the EPS growth for the year raised at -$3.99 for 2024 and -$0.99 for next year. These figures represent 92.40% and 75.20% 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 $52.94 million, with a low of $50.58 million and a high of $63.1 million. The median projection represents growth adding up to -18.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $238.4 million, or -19.90% down from figures reported last year.
On the other hand, looking at the outlook for the CGC stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.
Looking further, we note the current price level is -2.39% off its SMA20 and 41.51% from its 50-day simple moving average. The RSI (14) is pointing at 54.35 while the volatility over the past week is 13.73% and jumps to 15.91% over the past one month. The beta value is 1.34, while the average true range (ATR) is currently pointing at 1.15.
Coming back to Canopy Growth Corporation (NASDAQ:CGC), we note that the average 3-month trading volume was 11.87 million. Current shares outstanding are 91.11 million.
The insiders hold 28.90% of the company’s shares while institutions hold 6.91%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 62.82% up in year-to-date price movement.
