Canopy Growth Corporation (NASDAQ:CGC) closed Monday at $2.53 per share, down from $2.63 a day earlier. While Canopy Growth Corporation has underperformed by -3.80%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CGC fell by -86.62%, with highs and lows ranging from $19.85 to $2.13, whereas the simple moving average fell by -66.28% in the last 200 days.
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On June 08, 2022, BMO Capital Markets Downgraded Canopy Growth Corporation (NASDAQ: CGC) to Underperform. A report published by Barclays on March 22, 2022, Downgraded its rating to ‘Underweight’ for CGC. Piper Sandler December 20, 2021d the rating to Underweight on December 20, 2021, and set its price target from $11 to $7. Wells Fargo initiated its ‘Underweight’ rating for CGC, as published in its report on December 07, 2021. Barclays’s report from November 18, 2021 suggests a price prediction of $14 for CGC shares, giving the stock a ‘Equal Weight’ rating. Cowen also rated the stock as ‘Market Perform’.
Analysis of Canopy Growth Corporation (CGC)
Further, the quarter-over-quarter decrease in sales is -7.60%, showing a negative trend in the upcoming months.
As an indicator of volatility for any stock, average volume can also be very valuable, and CGC is recording an average volume of 8.52M. On a monthly basis, the volatility of the stock is set at 10.29%, whereas on a weekly basis, it is put at 6.72%, with a loss of -0.39% over the past seven days.
How Do You Analyze Canopy Growth Corporation Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 36.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 18.79% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CGC shares are owned by institutional investors to the tune of 18.79% at present.
