Canopy Growth Corporation (CGC) – it’s time to buy. Check out key Indicators

In yesterday’s Wall Street session, Canopy Growth Corporation (NASDAQ:CGC) shares traded at $0.59, up 7.35% from the previous session.

As of this writing, 14 analysts cover Canopy Growth Corporation (NASDAQ:CGC). 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 $0.55, this indicates a potential downside of -7.27 percent. CGC stock price is now -20.16% away from the 50-day moving average and -44.64% away from the 200-day moving average. The market capitalization of the company currently stands at $489.07M.

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There are 8 analysts who have given it a hold rating, whereas 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 $0.15 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 $0.15 million. Insiders disposed of 100,309,654 shares of company stock worth roughly $59.18 million over the past 1 year. A total of 23.53% of the company’s stock is owned by insiders.

Monday morning saw Canopy Growth Corporation (NASDAQ: CGC) opened at $0.5500. 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 $0.7389 and a two-hundred day moving average price translates $1.0657 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.

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