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Sunday, December 3, 2023

Canopy Growth Corporation (NASDAQ: CGC) Could Be Viewed Differently By Investors Because Of These Numbers

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Canopy Growth Corporation (CGC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.0099, or 1.70%, to $0.5925. The Canopy Growth Corporation has recorded 261,277 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Canopy Growth to Report Second Quarter Fiscal 2024 Financial Results on November 9, 2023.

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Stocks Info

The company is listed on the NASDAQ and operates within the Drug Manufacturers – Specialty & Generic industry segment. At the end of the last regular session, the stock closed at $0.58 and fluctuated between $0.6700 as its day high and $0.5761 as its day low. The current market capitalization of Canopy Growth Corporation is $440.25M. A total of 23.24 million shares were traded on the day, compared to an average of 51.59M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, CGC has seen 13 BUY and 6 SELL insider trades, representing the acquisition of 6,027,973 and the disposition of 192,938 shares. Over the last 12 months, there were 23 BUYs and 25 SELLs from insiders. Insiders purchased 106,132,348 shares during that period but sold 100,309,654.

In the most recent transaction, Lazzarato David Angelo sold 38,963 shares of CGC for 0.71 per share on Sep 01. After the transaction, the Director now owns 246,064 company shares. In a previous transaction on Sep 01, Yanofsky Theresa sold 38,803 shares at 0.71 per share. CGC shares that Director owns now total 250,335.

Among the insiders who sold shares, SCHMELING JUDY disposed of 18,703 shares on Sep 01 at a per-share price of $0.71. This resulted in the Director holding 439,022 shares of CGC after the transaction. In another insider transaction, Klein David Eric sold 18,775 shares at $0.52 per share on Jun 30. Company shares held by the Chief Executive Officer now total 173,302.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for CGC in the last 3 months, the mean price target is $0.88 with high estimates of $2.19 and low estimates of $0.36. In terms of 52-week highs and lows, CGC has a high of $4.77 and a low of $0.35.

As of this writing, CGC has an earnings estimate of -$0.13 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of -$0.03 per share and a lower estimate of -$0.26. The company reported an EPS of -$0.95 in the last quarter, which was -533.30% lower than expectations of -$0.15.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. CGC’s latest balance sheet shows that the firm has $1.37B in Cash & Short Term Investments as of fiscal 2022. There were $1.50B in debt and $212.90M in liabilities at the time. Its Book Value Per Share was $1.02, while its Total Shareholder’s Equity was $3.63B.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 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 Buy with a score of 2.55.

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