Canopy Growth Corporation [CGC] is 14.98% higher this YTD. Is it still time to buy?

Canopy Growth Corporation [NYSE: CGC] stock went on an upward path that rose over 2.28% on Wednesday, amounting to a one-week price increase of more than 27.63%. The company report on November 11, 2020 that Martha Stewart Releases Delicious 15-Flavor CBD Wellness Gummy Holiday Sampler in Collaboration with Canopy Growth Corporation and Marquee Brands.

Channel Your Inner Martha and Turn a “Lemon Year” into Meyer Lemon Gummies with New CBD Sampler.

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, has released a highly giftable Martha Stewart CBD Wellness Gummies Sampler just in time for the holidays. Inspired by the French confection pâte de fruits, this elegant 60-count sampler box features 15 seasonal flavors such as Passionfruit, Calamondin and Quince.

Over the last 12 months, CGC stock rose by 25.97%.

The market cap for the stock reached $9.00 billion, with 371.27 million shares outstanding and 224.94 million shares in the current float. Compared to the average trading volume of 5.95M shares, CGC stock reached a trading volume of 7548740 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Canopy Growth Corporation [CGC]:

CFRA have made an estimate for Canopy Growth Corporation shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on September 04, 2020. The new note on the price target was released on June 01, 2020, representing the official price target for Canopy Growth Corporation stock.

The Average True Range (ATR) for Canopy Growth Corporation is set at 1.77 The Price to Book ratio for the last quarter was 4.59.

CGC Stock Performance Analysis:

Canopy Growth Corporation [CGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.63. With this latest performance, CGC shares gained by 29.68% in over the last four-week period, additionally plugging by 74.96% over the last 6 months – not to mention a rise of 25.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGC stock in for the last two-week period is set at 67.55, with the RSI for the last a single of trading hit 70.15, and the three-weeks RSI is set at 66.04 for Canopy Growth Corporation [CGC]. The present Moving Average for the last 50 days of trading for this stock 17.67, while it was recorded at 23.45 for the last single week of trading, and 17.00 for the last 200 days.

Insight into Canopy Growth Corporation Fundamentals:

Canopy Growth Corporation [CGC] Insider Position Details

There are presently around $849 million, or 11.98% of CGC stock, in the hands of institutional investors. The top three institutional holders of CGC stocks are: VANGUARD GROUP INC with ownership of 6,417,155, which is approximately 18.816% of the company’s market cap and around 39.19% of the total institutional ownership; ETF MANAGERS GROUP, LLC, holding 2,681,746 shares of the stock with an approximate value of $65.03 million in CGC stocks shares; and BANK OF MONTREAL /CAN/, currently with $45.86 million in CGC stock with ownership of nearly 26.356% of the company’s market capitalization.

151 institutional holders increased their position in Canopy Growth Corporation [NYSE:CGC] by around 5,683,530 shares. Additionally, 133 investors decreased positions by around 7,870,651 shares, while 112 investors held positions by with 21,451,953 shares. The mentioned changes placed institutional holdings at 35,006,134 shares, according to the latest SEC report filing. CGC stock had 47 new institutional investments in for a total of 861,970 shares, while 59 institutional investors sold positions of 3,967,181 shares during the same period.

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