Canopy Growth Corporation (NASDAQ: CGC) stock fell -8.55% on Tuesday to $1.07 against a previous-day closing price of $1.17. With 10.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 6.18 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $1.1700 whereas the lowest price it dropped to was $1.0500. The 52-week range on CGC shows that it touched its highest point at $5.61 and its lowest point at $1.02 during that stretch. It currently has a 1-year price target of $1.51.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CGC was up-trending over the past week, with a rise of 3.88%, but this was down by -18.94% over a month. Three-month performance dropped to -55.23% while six-month performance fell -70.84%. The stock lost -80.62% in the past year, while it has lost -53.68% so far this year. A look at the trailing 12-month EPS for CGC yields -5.33 with Next year EPS estimates of -0.54. For the next quarter, that number is -0.15. This implies an EPS growth rate of -681.00% for this year and 88.10% for next year.
Float and Shares Shorts:
At present, 521.00 million CGC shares are outstanding with a float of 331.58 million shares on hand for trading. On Apr 27, 2023, short shares totaled 39.09 million, which was 7.50% higher than short shares on Mar 30, 2023. In addition to Mr. David Eric Klein as the firm’s CEO & Director, Ms. Judy Eunjoo Hong serves as its VP of Investor Relations & Competitive Intelligence, Chief of Staff to the CEO and CFO.
Through their ownership of 14.21% of CGC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of CGC, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.67% stake in CGC, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 8,255,255 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 0.79% of CGC stock, is the second-largest Mutual Fund holder. It holds 3,922,290 shares valued at 5.1 million. Horizons Marijuana Life Sciences holds 0.65% of the stake in CGC, owning 3,212,156 shares worth 4.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, CGC reported revenue of $110.11M and operating income of -$110.24M. The EBITDA in the recently reported quarter was $1.64B and diluted EPS was -$5.23.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CGC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CGC analysts setting a high price target of $6.66 and a low target of $0.74, the average target price over the next 12 months is $2.02. Based on these targets, CGC could surge 522.43% to reach the target high and fall by -30.84% to reach the target low. Reaching the average price target will result in a growth of 88.79% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.