With over 10.23 million Canopy Growth Corporation (CGC) shares trading Monday and a closing price of $3.63 on the day, the dollar volume was approximately $37.14 million. The shares have shown a negative half year performance of -30.06% and its price on 11/21/22 lost nearly -1.09%. Currently, there are 485.93M common shares owned by the public and among those 310.35M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for CGC have a consensus price objective of $2.59. The analysts have set the share’s price value over the next 12 months at a high of $3.71 and a low of $1.56. The average price target is 31.89% above its recent price level and a downside to the estimated low will see the stock lose -132.69% over that period. But an upside of 2.16% will see the stock hit the forecast high price target while median target price for the stock is $2.45.
The top 3 mutual fund holders in Canopy Growth Corporation are ETFMG Alternative Harvest ETF, Vanguard Total International Stoc, and Horizons Marijuana Life Sciences. ETFMG Alternative Harvest ETF owns 11.3 million shares of the company’s stock, all valued at over $42.14 million. Vanguard Total International Stoc sold 18740.0 shares to see its total holdings shrink to 4.02 million shares valued at over $14.98 million and representing 0.84% of the shares outstanding. Horizons Marijuana Life Sciences sold 16645.0 shares to bring its total holdings to over 3.39 million shares at a value of $12.63 million. Horizons Marijuana Life Sciences now owns shares totaling to 0.71% of the shares outstanding.
Shares of Canopy Growth Corporation (NASDAQ: CGC) opened at $3.63, down -$0.04 from a prior closing price of $3.67. However, the script later moved the day high at 3.8300, down -1.09%. The company’s stock has a 5-day price change of -14.39% and 5.52% over the past three months. CGC shares are trading -58.42% year to date (YTD), with the 12-month market performance down to -70.20% lower. It has a 12-month low price of $2.13 and touched a high of $12.77 over the same period. CGC has an average intraday trading volume of 14.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.36%, 16.38%, and -20.80% respectively.
Institutional ownership of Canopy Growth Corporation (NASDAQ: CGC) shares accounts for 17.66% of the company’s 485.93M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $1.76B. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.22% over the week and 13.01% over the month.
Analysts forecast that Canopy Growth Corporation (CGC) will achieve an EPS of -$0.19 for the current quarter, -$0.17 for the next quarter and -$0.55 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.25 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to decrease by -637.90%, and 87.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Canopy Growth Corporation (CGC) as a “Hold” at a consensus score of 3.90. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 18 advise that investors “hold,” and 7 rated it as a “Sell.”
Looking at the support for the CGC, a number of firms have released research notes about the stock. Bernstein stated their Underperform rating for the stock in a research note on November 02, 2022, with the firm’s price target at $1.50. BofA Securities on their part issued Underperform rating on December 22, 2021.