The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Canopy Growth Corporation shares valued at $335,127 were sold by Klein David Eric on Aug 22 ’24. At $8.35 per share, Klein David Eric sold 40,135 shares. The insider’s holdings dropped to 360,829 shares worth approximately $1.72 million following the completion of this transaction.
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Also, Gedeon Christelle sold 16,788 shares, netting a total of over 140,180 in proceeds. Following the sale of shares at $8.35 each, the insider now holds 128,435 shares.
Before that, Hong Judy Eun Joo had sold 50,188 shares from its account. In a trade valued at $419,070, the Chief Financial Officer traded Canopy Growth Corporation shares for $8.35 each. Upon closing the transaction, the insider’s holdings decreased to 50,188 shares, worth approximately $0.89 million.
As published in a research note from Bernstein on April 04, 2023, Canopy Growth Corporation [CGC] has been rated up from an Underperform to a Mkt perform. Analysts at Bernstein started covering the stock with ‘”an Underperform”‘ outlook in a report released in early November. As of October 26, 2022, Canaccord Genuity has increased its “Sell” rating to a “Hold” for CGC. Earlier on June 08, 2022, BMO Capital Markets downgraded its rating. Their new recommendation was “an Underperform” for CGC stock which previously was a “a Market perform”.
Analyzing CGC Stock Performance
During the last five days, there has been a surge of approximately 1.27%. Over the course of the year, Canopy Growth Corporation shares have dropped approximately -6.65%. Shares of the company reached a 52-week high of $14.92 on 04/30/24 and a 52-week low of $2.76 on 03/14/24. A 50-day SMA is recorded $6.26, while a 200-day SMA reached $6.37. Nevertheless, trading volume fell to 2.33 million shares from 3.29 million shares the previous day.
Support And Resistance Levels for Canopy Growth Corporation (CGC)
According to the 24-hour chart, there is a support level at 4.67, which, if violated, would cause prices to drop to 4.58. In the upper region, resistance lies at 4.94. The next price resistance is at 5.12. RSI (Relative Strength Index) is 34.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.00, which suggests the price will decrease in the coming days. Percent R is at 67.97%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
