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Wednesday, March 22, 2023

An Evaluation Of Canopy Growth Corporation (NASDAQ: CGC) Prospects

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Canopy Growth Corporation (CGC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.01, or 0.49%, to $2.05. The Canopy Growth Corporation has recorded 26,972 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Acreage Revises Timing for Reporting of its Fourth Quarter and Full Year 2022 Financial Results.

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Stocks Info

CGC belongs to the Healthcare sector of the NASDAQ while operating in the Drug Manufacturers – Specialty & Generic industry. At the end of the last regular session, the stock closed at $2.04 and fluctuated between $2.0800 as its day high and $1.9800 as its day low. The current market capitalization of Canopy Growth Corporation is $1.01B. A total of 9.64 million shares were traded on the day, compared to an average of 8.05M shares.

In the most recent transaction, Lazzarato David Angelo sold 3,733 shares of CGC for 2.97 per share on Dec 28. After the transaction, the Director now owns 19,679 company shares. In a previous transaction on Dec 28, Yanofsky Theresa sold 3,717 shares at 2.97 per share. CGC shares that Director owns now total 25,137.

Among the insiders who sold shares, SCHMELING JUDY disposed of 1,792 shares on Dec 28 at a per-share price of $2.97. This resulted in the Director holding 57,798 shares of CGC after the transaction. In another insider transaction, Hong Judy Eun Joo sold 1,021 shares at $4.98 per share on Jun 09. Company shares held by the Chief Financial Officer now total 5,100.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for CGC in the last 3 months, the mean price target is $2.33 with high estimates of $6.74 and low estimates of $1.00. In terms of 52-week highs and lows, CGC has a high of $8.79 and a low of $1.97.

As of this writing, CGC has an earnings estimate of -$0.16 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of -$0.11 per share and a lower estimate of -$0.2. The company reported an EPS of -$0.35 in the last quarter, which was -75.00% lower than expectations of -$0.2.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 18 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CGC is Underweight with a score of 2.31. A total of 2 analysts rated the stock as Buy while 0 rated it as Overweight while 7 rated it as Hold. Among the other participants, 2 thought the stock was Underweight and 7 thought it should be Sold.

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