With over 5.63 million Canopy Growth Corporation (CGC) shares trading Monday and a closing price of $2.95 on the day, the dollar volume was approximately $16.62 million. The shares have shown a positive half year performance of 9.26% and its price on 02/06/23 gained nearly 1.03%. Currently, there are 485.93M common shares owned by the public and among those 310.34M 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: 19 analysts who have offered their price forecasts for CGC have a consensus price objective of $2.88. The analysts have set the share’s price value over the next 12 months at a high of $8.07 and a low of $1.50. But an upside of 63.44% will see the stock hit the forecast high price target while median target price for the stock is $2.34.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
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 8.6 million shares of the company’s stock, all valued at over $19.87 million. The company sold 12108.0 shares recently to bring their total holdings to about 1.74% of the shares outstanding. Horizons Marijuana Life Sciences sold 26090.0 shares to bring its total holdings to over 3.35 million shares at a value of $7.74 million. Horizons Marijuana Life Sciences now owns shares totaling to 0.68% of the shares outstanding.
Shares of Canopy Growth Corporation (NASDAQ: CGC) opened at $2.88, down -$0.04 from a prior closing price of $2.92. However, the script later moved the day high at 2.9700, up 1.03%. The company’s stock has a 5-day price change of 3.87% and -14.49% over the past three months. CGC shares are trading 27.71% year to date (YTD), with the 12-month market performance down to -61.03% lower. It has a 12-month low price of $2.09 and touched a high of $9.61 over the same period. CGC has an average intraday trading volume of 12.91 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 8.34%, 3.36%, and -14.88% respectively.
Institutional ownership of Canopy Growth Corporation (NASDAQ: CGC) shares accounts for 19.16% 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 $1.43B. 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 6.56% over the week and 6.66% 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 -641.40%, and 87.70% over the next financial year.
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.
