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NASDAQ:CGC

Canopy Growth (CGC) Stock Price, News & Analysis

Canopy Growth logo
$3.90 +0.04 (+1.04%)
(As of 11/22/2024 ET)

About Canopy Growth Stock (NASDAQ:CGC)

Key Stats

Today's Range
$3.85
$4.10
50-Day Range
$3.73
$5.59
52-Week Range
$2.76
$14.92
Volume
3.81 million shs
Average Volume
7.67 million shs
Market Capitalization
$410.90 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$3.50
Consensus Rating
Reduce

Company Overview

Canopy Growth Corporation is a renowned player in the cannabis industry. The company has its headquarters in Smiths Falls, Ontario, Canada, and is dedicated to enhancing lives through cannabis. Canopy Growth's mission revolves around delivering top-quality cannabis products and services that cater to the needs of both medical and recreational consumers.

Canopy Growth Corporation operates in the cultivation and distribution of various cannabis products, catering to both medical and recreational users. The company has established itself as a leading producer of cannabis products, offering a wide range of options to meet the diverse needs of its customers. From dried cannabis flowers to oils, soft gel capsules, and edibles, Canopy Growth provides a comprehensive selection of products to deliver consistent, high-quality experiences.

The company's target market encompasses a broad spectrum of individuals seeking the therapeutic benefits of cannabis, including those with medical conditions and those who consume cannabis for recreational purposes. Canopy Growth aims to destigmatize cannabis and promote its potential benefits across society by offering safe, reliable, innovative products.

Canopy Growth Corporation's key customers can be described as a mix of medical patients and adult consumers who value quality and reliability in their cannabis products. Medical patients rely on Canopy Growth for consistent and effective treatments, while recreational users appreciate the company's commitment to delivering a premium cannabis experience.

The company has achieved several significant milestones and garnered recognition for its contributions to the industry. Canopy Growth Corporation has been at the forefront of cannabis research and development, pioneering innovative cultivation techniques and product formulations. The company's dedication to quality and innovation has earned it numerous awards and accolades, further solidifying its position as a leader in the cannabis industry.

Canopy Growth Corporation boasts a competent management team that brings a wealth of expertise to the company. Under the leadership of Chief Executive Officer David Klein, the team combines diverse professional backgrounds to drive the company's operations effectively. 

The management team comprises individuals with extensive experience in various fields, including cannabis cultivation, pharmaceuticals, finance, and marketing. Each team member contributes unique expertise to guide the company's strategic direction, foster innovation and ensure operational excellence.

Canopy Growth Corporation's financial performance reflects the dynamic nature of the cannabis industry. The company has experienced fluctuations in revenue metrics as market conditions and regulations evolve. Analyzing long-term trends and broader industry benchmarks is crucial to comprehensively understand the company's financial position.

Over the past few years, Canopy Growth Corporation has demonstrated the ability to generate revenue driven by increasing consumer demand and expanding market opportunities. The company's revenue metrics reflect its market leadership and the widespread acceptance of its products.

Earnings metrics provide insights into Canopy Growth Corporation's profitability. As the cannabis industry undergoes rapid growth and regulatory changes, the company's earnings can fluctuate due to increased investments in research and development, marketing initiatives, and compliance with evolving regulations.

Profit margin metrics reflect the company's ability to generate sustainable returns. Canopy Growth Corporation has been focused on improving operational efficiency and optimizing its cost structure to enhance profitability. Evaluating profit margin metrics in the context of the company's ongoing investments and growth strategies is essential.

Debt levels are also important factors to consider in assessing the financial health of Canopy Growth Corporation. Responsible debt management ensures a balanced financial position, enabling the company to pursue growth opportunities while mitigating potential risks. By maintaining a prudent approach to debt, Canopy Growth Corporation aims to maintain financial stability and create long-term value for its shareholders.

Analyzing Canopy Growth Corporation's recent stock performance provides valuable insights into investor sentiment and market conditions. Various factors, including regulatory changes, industry news, macroeconomic trends, and investor perception of the cannabis sector, influence the company's share price.

Canopy Growth Corporation has experienced fluctuations in its stock price, reflecting the volatility and evolving nature of the cannabis industry. Monitoring the company's stock performance is vital to understand its market position and growth potential better. Investors can make informed decisions about their investments by analyzing the underlying factors contributing to the company's stock performance.

Canopy Growth Corporation operates within the broader cannabis industry, which has witnessed rapid expansion and evolving regulations. Several factors influence the company's competitive positioning, including brand reputation, product portfolio, distribution network, and research capabilities.

As a market leader, Canopy Growth Corporation enjoys advantages from early market entry and established partnerships. The company has built a strong brand that resonates with consumers seeking reliable, high-quality cannabis products. Canopy Growth's extensive distribution network ensures widespread market access and customer reach.

The cannabis industry is also characterized by intense competition and regulatory complexities. Canopy Growth Corporation faces competition from established players and emerging companies vying for market share. The evolving regulatory landscape presents challenges and uncertainties that require continuous adaptation and compliance efforts.

Despite these challenges, Canopy Growth Corporation remains well-positioned due to its brand recognition, established market presence, and commitment to research and development. The company's focus on innovation, strategic partnerships, and diversification efforts allows it to maintain a competitive edge in the industry.

Canopy Growth Corporation is poised to capitalize on numerous growth opportunities within the cannabis sector. As the industry expands and regulations evolve, the company can leverage its established brand, extensive distribution channels, and product innovation to capture market share.

One significant growth opportunity lies in the increasing acceptance of cannabis for medical purposes. Canopy Growth Corporation's strong presence in the medical cannabis market positions it to cater to the growing demand for therapeutic products. The company can tap into this market segment's potential by developing innovative treatment options and expanding its medical product portfolio.

Additionally, the ongoing global trend toward cannabis legalization opens up new markets and opportunities for Canopy Growth Corporation. The company's strategic partnerships, acquisitions, and geographic expansion efforts allow it to establish a presence in emerging markets and gain a competitive advantage.

Canopy Growth Corporation's focus on research and development presents opportunities for product innovation and differentiation. By investing in scientific research, the company can develop new cannabis-based formulations, delivery methods, and applications, further expanding its product offerings and addressing evolving consumer needs.

Despite its promising position in the cannabis industry, Canopy Growth Corporation faces risks and challenges that must be carefully managed. Domestic and international regulatory changes can significantly impact market dynamics and introduce uncertainties. The evolving nature of cannabis regulations, particularly in different jurisdictions, creates compliance, licensing, and product distribution challenges.

The intense competition within the cannabis industry is another significant challenge. As the market expands, more players enter the space, intensifying competition for market share. To maintain a competitive edge, Canopy Growth Corporation must continue differentiating itself through product quality, brand reputation, and innovative offerings.

The complex and evolving nature of the cannabis industry also poses risks related to market volatility and investor sentiment. The industry's growth potential attracts significant attention, but it is also subject to market fluctuations and changing investor sentiment, which can impact stock prices and overall market performance.

In response to these risks and challenges, Canopy Growth Corporation has implemented robust risk management strategies. The company maintains comprehensive compliance programs to ensure adherence to evolving regulations and standards. Additionally, Canopy Growth Corporation's focus on research and development, innovation, and strategic partnerships helps mitigate risks by fostering product differentiation, market expansion, and adaptability.

Furthermore, the company's commitment to sustainable and responsible business practices positions it favorably in an industry where environmental, social, and governance considerations are becoming increasingly important.

Canopy Growth Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
27th Percentile Overall Score

CGC MarketRank™: 

Canopy Growth scored higher than 27% of companies evaluated by MarketBeat, and ranked 822nd out of 953 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Canopy Growth has received a consensus rating of Reduce. The company's average rating score is 1.67, and is based on no buy ratings, 2 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Canopy Growth has received no research coverage in the past 90 days.

  • Read more about Canopy Growth's stock forecast and price target.
  • Earnings Growth

    Earnings for Canopy Growth are expected to grow in the coming year, from ($2.17) to ($1.03) per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Canopy Growth is -0.79, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Canopy Growth is -0.79, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Book Value per Share Ratio

    Canopy Growth has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about Canopy Growth's valuation and earnings.
  • Percentage of Shares Shorted

    9.77% of the float of Canopy Growth has been sold short.
  • Short Interest Ratio / Days to Cover

    Canopy Growth has a short interest ratio ("days to cover") of 1.8, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Canopy Growth has recently decreased by 10.94%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Canopy Growth does not currently pay a dividend.

  • Dividend Growth

    Canopy Growth does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    9.77% of the float of Canopy Growth has been sold short.
  • Short Interest Ratio / Days to Cover

    Canopy Growth has a short interest ratio ("days to cover") of 1.8, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Canopy Growth has recently decreased by 10.94%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Canopy Growth has a news sentiment score of 0.47. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Medical companies.
  • News Coverage This Week

    MarketBeat has tracked 3 news articles for Canopy Growth this week, compared to 6 articles on an average week.
  • Search Interest

    18 people have searched for CGC on MarketBeat in the last 30 days. This is an increase of 200% compared to the previous 30 days.
  • MarketBeat Follows

    Only 5 people have added Canopy Growth to their MarketBeat watchlist in the last 30 days. This is a decrease of -38% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Canopy Growth insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $9,875.00 in company stock.

  • Percentage Held by Insiders

    Only 1.30% of the stock of Canopy Growth is held by insiders.

  • Percentage Held by Institutions

    Only 3.33% of the stock of Canopy Growth is held by institutions.

  • Read more about Canopy Growth's insider trading history.
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CGC Stock News Headlines

Canopy Growth to launch California grown Claybourne brand in Canada
Canopy Growth Launches Claybourne Infused Pre-Rolls in Canada
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Atb Cap Markets Expects Lower Earnings for Canopy Growth
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CGC Stock Analysis - Frequently Asked Questions

Canopy Growth's stock was trading at $5.11 on January 1st, 2024. Since then, CGC shares have decreased by 23.7% and is now trading at $3.90.
View the best growth stocks for 2024 here
.

Canopy Growth Co. (NASDAQ:CGC) released its quarterly earnings results on Friday, November, 5th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($1.60) by $1.40. Canopy Growth's revenue for the quarter was down 3.4% on a year-over-year basis.

Shares of Canopy Growth reverse split before market open on Wednesday, December 20th 2023. The 1-10 reverse split was announced on Wednesday, December 13th 2023. The number of shares owned by shareholders was adjusted after the market closes on Tuesday, December 19th 2023. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

Top institutional investors of Canopy Growth include Parallax Volatility Advisers L.P., Geode Capital Management LLC (0.31%), Wolverine Trading LLC and Jane Street Group LLC. Insiders that own company stock include Judy Eun Joo Hong, Theresa Yanofsky, David Angelo Lazzarato, Willy Kruh and Thomas Carlton Stewart.
View institutional ownership trends
.

Shares of CGC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Canopy Growth investors own include NVIDIA (NVDA), Meta Platforms (META), Alibaba Group (BABA), Micron Technology (MU), General Electric (GE), BMO Capital Markets () and Stifel Nicolaus ().

Company Calendar

Last Earnings
11/05/2021
Today
11/22/2024
Next Earnings (Estimated)
2/14/2025
Fiscal Year End
3/31/2025

Industry, Sector and Symbol

Sector
Medical
Industry
Medicinals & botanicals
Sub-Industry
Pharmaceutical Products
Current Symbol
NASDAQ:CGC
Fax
N/A
Employees
1,029
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$3.50
High Stock Price Target
$5.00
Low Stock Price Target
$2.00
Potential Upside/Downside
-10.3%
Consensus Rating
Reduce
Rating Score (0-4)
1.67
Research Coverage
3 Analysts

Profitability

Net Income
$-487,230,000.00
Net Margins
-186.17%
Pretax Margin
-181.81%

Debt

Sales & Book Value

Annual Sales
$280.50 million
Book Value
$3.55 per share

Miscellaneous

Free Float
103,990,000
Market Cap
$410.90 million
Optionable
Optionable
Beta
0.87
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This page (NASDAQ:CGC) was last updated on 11/23/2024 by MarketBeat.com Staff
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