Could Canopy Growth Corporation (CGC) stock price achieve new all-time highs if its expected earnings and revenue increase?

Stocks of Canopy Growth Corporation (NASDAQ:CGC) traded higher last session on Wall Street, up 4.15% to $0.54.

According to the data, Canopy Growth Corporation (NASDAQ:CGC) has 14 analysts covering its stock. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $1.45 and a low of $0.36, we find $0.51. Given the previous closing price of $0.52, this indicates a potential downside of -1.92 percent. CGC stock price is now -28.55% away from the 50-day moving average and -51.87% away from the 200-day moving average. The market capitalization of the company currently stands at $410.02M.

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A total of 8 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $0.72 as their price target over the next twelve months.

In other news, Lazzarato David Angelo, Director sold 38,963 shares of the company’s stock on Sep 01. The stock was sold for $27,664 at an average price of $0.71. Upon completion of the transaction, the Director now directly owns 246,064 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Director Yanofsky Theresa sold 38,803 shares of the business’s stock. A total of $27,550 was realized by selling the stock at an average price of $0.71. This leaves the insider owning 250,335 shares of the company worth $0.14 million. Insiders disposed of 100,309,654 shares of company stock worth roughly $54.17 million over the past 1 year. A total of 23.49% of the company’s stock is owned by insiders.

Monday’s opening bell rang with an opening price of $0.5200 for Canopy Growth Corporation (NASDAQ: CGC). During the past 12 months, Canopy Growth Corporation has had a low of $0.35 and a high of $4.77. As of last week, the company has a debt-to-equity ratio of 1.02, a current ratio of 2.52, and a quick ratio of 2.07. The fifty day moving average price for CGC is $0.7595 and a two-hundred day moving average price translates $1.1273 for the stock.

The latest earnings results from Canopy Growth Corporation (NASDAQ: CGC) was released for Sep, 2023. The net profit margin was -373.56% and return on equity was -98.75% for CGC. The company reported revenue of $51.87 million for the quarter, compared to $90.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -42.56 percent. For the current quarter, analysts expect CGC to generate $63.69M in revenue.

Canopy Growth Corporation(CGC) Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. The company’s products include dried cannabis flower, extracts and concentrates, beverages, gummies, and vapes. It offers its products under the Tweed, 7ACRES, 7ACRES Craft Collective, DOJA, Ace Valley, Quatreau, Deep Space, First + Free, Surity Pro, Spectrum Therapeutics, Vert, Tokyo Smoke, Twd, Martha Stewart CBD, DNA Genetics, BioSteel, Storz & Bickel, This Works, HiWay, Simple Stash, Whisl, and Truverra brands. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation was incorporated in 2009 and is headquartered in Smiths Falls, Canada.

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