Canopy Growth Corporation (NASDAQ:CGC) price on Thursday, May 09,rose 9.19% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $9.86.
A look at the stock’s price movement, the close in the last trading session was $9.03. The beta value (5-Year monthly) was 2.03. Turning to its 52-week performance, $19.20 and $2.76 were the 52-week high and 52-week low respectively. Overall, CGC moved 8.11% over the past month.
Canopy Growth Corporation’s market cap currently stands at around $898.34 million, with investors looking forward to this quarter’s earnings report slated for Jun 20, 2024 – Jun 24, 2024.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CGC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
CGC’s current price about 10.30% and 41.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.92, while 7-day volatility ratio is 12.45% and 18.98% in the 30-day chart. Further, Canopy Growth Corporation (CGC) has a beta value of 1.02, and an average true range (ATR) of 1.64.
If we refocus on Canopy Growth Corporation (NASDAQ:CGC), historical trading data shows that trading volumes averaged 15.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 91.11 million shares.
The 28.90% of Canopy Growth Corporation’s shares are in the hands of company insiders while institutional holders own 6.42% of the company’s shares. Current price change has pushed the stock 92.95% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CGC stock continues to rise going into the next quarter.
