Canopy Growth Corp (WEED.TO) Showing Bullish Money Flow

Canopy Growth Corp (WEED.TO) is seeing positive money flow as the Chalkin (CMF) indicator is holding above the zero line. The Chaikin Money …

Canopy Growth Corp (WEED.TO) is seeing positive money flow as the Chalkin (CMF) indicator is holding above the zero line. The Chaikin Money Flow Indicator is an oscillator developed by Marc Chaikin. An oscillator is an indicator that is used as a counter trend showing when the market is overbought or oversold. The CMF is based largely on the Accumulation Distribution Line; it compares the close value with the high and the low for that same day.

A buy signal occurs when the CMF value crosses from below the 0 line to above the 0 line. A sell signal occurs when the CMF value crosses from above the 0 line to below the 0 line.

There are many factors at play when looking to successfully conquer the stock market. New investors have the tendency to become overwhelmed at the prospect of putting their hard earned money to work. If the individual investor decides that they are going to be managing their own money, they may be looking for a proper place to start. Investors might want to start by clearly defining their own goals. Creating realistic and attainable goals can help get the investor walking down the right path. As many experienced investors know, setting goals and staying on track can be a big help for navigating the markets.

Active traders have a wide range of technical indicators at their disposal for when completing technical stock analysis and here we will take a look at a few more. Currently, the 14-day ATR for Canopy Growth Corp (WEED.TO) is spotted at 2.74. First developed by J. Welles Wilder, the ATR may assist traders in determining if there is heightened interest in a trend, or if extreme levels may be signaling a reversal. Simply put, the ATR determines the volatility of a security over a given period of time, or the tendency of the security to move one direction or another.

Checking in on some other technical levels, the 14-day RSI is currently at 50.62, the 7-day stands at 42.33, and the 3-day is sitting at 21.78. The RSI, or Relative Strength Index, is a commonly used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued.

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Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Canopy Growth Corp (WEED.TO) is noted at 20.89. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

The Williams Percent Range or Williams %R is another technical indicator worth taking a look at. Canopy Growth Corp (WEED.TO) currently has a 14 day Williams %R of -73.90. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

Canopy Growth Corp (WEED.TO) currently has a 14-day Commodity Channel Index (CCI) of -98.62. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Equity market investing has a way of provoking strong emotions. When markets become frantic, investors may feel compelled to make decisions that they might not normally make. Having the proper perspective and staying focused can help the individual investor stay committed to the previously created plan. Trying to predict the day to day movements of the stock market can be extremely difficult. Even the top professionals may get thrown for a loop every now and then. Chasing winners and holding onto losers may be a recipe for portfolio disaster over the long run. Investors who are able to stay calm and think logically should be able to better position themselves when markets become stormy.

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Trust Investment Advisors Invests $247000 in Canopy Growth Corp (CGC) Stock

Trust Investment Advisors bought a new position in shares of Canopy Growth Corp (NYSE:CGC) in the 1st quarter, according to its most recent Form …

Canopy Growth logoTrust Investment Advisors bought a new position in shares of Canopy Growth Corp (NYSE:CGC) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,685 shares of the marijuana producer’s stock, valued at approximately $247,000.

Several other large investors have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC boosted its position in shares of Canopy Growth by 36.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 847 shares of the marijuana producer’s stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Canopy Growth by 29.2% during the 4th quarter. Gradient Investments LLC now owns 1,063 shares of the marijuana producer’s stock worth $29,000 after acquiring an additional 240 shares in the last quarter. Focused Wealth Management Inc boosted its position in shares of Canopy Growth by 16.3% during the 4th quarter. Focused Wealth Management Inc now owns 2,462 shares of the marijuana producer’s stock worth $66,000 after acquiring an additional 345 shares in the last quarter. First Manhattan Co. boosted its position in shares of Canopy Growth by 13.6% during the 4th quarter. First Manhattan Co. now owns 3,140 shares of the marijuana producer’s stock worth $84,000 after acquiring an additional 375 shares in the last quarter. Finally, IPG Investment Advisors LLC boosted its position in shares of Canopy Growth by 5.6% during the 4th quarter. IPG Investment Advisors LLC now owns 7,472 shares of the marijuana producer’s stock worth $210,000 after acquiring an additional 395 shares in the last quarter. 8.33% of the stock is owned by institutional investors and hedge funds.

Shares of Canopy Growth stock traded down $1.59 on Thursday, hitting $46.45. The stock had a trading volume of 77,903 shares, compared to its average volume of 8,478,647. Canopy Growth Corp has a 52-week low of $22.88 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 17.12 and a current ratio of 17.85. The company has a market capitalization of $16.56 billion, a P/E ratio of -145.25 and a beta of 4.17.

Canopy Growth (NYSE:CGC) last posted its earnings results on Thursday, February 14th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.52). Canopy Growth had a negative net margin of 267.40% and a negative return on equity of 14.39%. The firm had revenue of $62.85 million during the quarter, compared to analysts’ expectations of $66.09 million. As a group, analysts forecast that Canopy Growth Corp will post -1.08 earnings per share for the current year.

Several research firms have recently issued reports on CGC. Seaport Global Securities reaffirmed a “hold” rating on shares of Canopy Growth in a research report on Tuesday, April 2nd. Bank of America began coverage on Canopy Growth in a research report on Wednesday, April 17th. They set a “buy” rating for the company. Zacks Investment Research raised Canopy Growth from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group assumed coverage on Canopy Growth in a report on Monday, February 25th. They issued a “hold” rating for the company. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Canopy Growth in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Canopy Growth has a consensus rating of “Buy” and a consensus price target of $57.85.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Finance Daily and is owned by of Finance Daily. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.fidaily.com/2019/05/09/trust-investment-advisors-invests-247000-in-canopy-growth-corp-cgc-stock.html.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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Canopy Growth Corp (CGC) Position Increased by Hudock Capital Group LLC

Hudock Capital Group LLC grew its position in shares of Canopy Growth Corp (NYSE:CGC) by 99.5% in the first quarter, according to the company in …

Canopy Growth logoHudock Capital Group LLC grew its position in shares of Canopy Growth Corp (NYSE:CGC) by 99.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 868 shares of the marijuana producer’s stock after purchasing an additional 433 shares during the period. Hudock Capital Group LLC’s holdings in Canopy Growth were worth $37,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Jupiter Wealth Management LLC bought a new position in Canopy Growth in the first quarter worth approximately $1,325,000. Guidant Wealth Advisors purchased a new position in Canopy Growth in the first quarter worth $48,000. Wedbush Securities Inc. grew its holdings in Canopy Growth by 8.9% in the first quarter. Wedbush Securities Inc. now owns 25,790 shares of the marijuana producer’s stock worth $1,119,000 after purchasing an additional 2,108 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in Canopy Growth by 538.2% in the first quarter. Carroll Financial Associates Inc. now owns 2,808 shares of the marijuana producer’s stock worth $121,000 after purchasing an additional 2,368 shares during the last quarter. Finally, Winfield Associates Inc. purchased a new position in Canopy Growth in the first quarter worth $208,000. Hedge funds and other institutional investors own 8.33% of the company’s stock.

Shares of NYSE CGC opened at $48.04 on Thursday. Canopy Growth Corp has a 12-month low of $22.88 and a 12-month high of $59.25. The stock has a market cap of $16.56 billion, a P/E ratio of -150.13 and a beta of 4.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12.

Canopy Growth (NYSE:CGC) last posted its quarterly earnings results on Thursday, February 14th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.52). Canopy Growth had a negative net margin of 267.40% and a negative return on equity of 14.39%. The firm had revenue of $62.85 million during the quarter, compared to analysts’ expectations of $66.09 million. As a group, equities analysts forecast that Canopy Growth Corp will post -1.08 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Seaport Global Securities reaffirmed a “hold” rating on shares of Canopy Growth in a report on Tuesday, April 2nd. Desjardins initiated coverage on shares of Canopy Growth in a report on Thursday, April 25th. They issued a “buy” rating on the stock. Piper Jaffray Companies set a $80.00 price objective on shares of Canopy Growth and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, TheStreet upgraded shares of Canopy Growth from a “d+” rating to a “c” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Canopy Growth currently has a consensus rating of “Buy” and a consensus price target of $57.85.

TRADEMARK VIOLATION NOTICE: “Canopy Growth Corp (CGC) Position Increased by Hudock Capital Group LLC” was originally posted by Finance Daily and is owned by of Finance Daily. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.fidaily.com/2019/05/09/hudock-capital-group-llc-has-37000-position-in-canopy-growth-corp-cgc.html.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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Canopy Growth Corp’s BC greenhouses are running smoothly, GMP says

Following a tour of Canopy Growth Corp’s (Canopy Growth Corp Stock Quote, Chart TSX:WEED, NYSE:CGC) Aldergrove and Delta facilities, GMP …

Following a tour of Canopy Growth Corp’s (Canopy Growth Corp Stock Quote, Chart TSX:WEED, NYSE:CGC) Aldergrove and Delta facilities, GMP Securities analyst Martin Landry says things are on track.

On Tuesday, WEED hosted a tour of its BC facilities, which Landry attended.

“The BC greenhouses appear to be running smoothly across all areas of production, trimming and drying,” the analyst said.

Landry thinks that, over time, the BC facilities could produce 300 tonnes annually.

“The facilities are ramping up production with only 400k sq. ft. of greenhouse currently unlicensed, the application for which has been submitted. With a number of harvests already under the belt, the ramp up focus is on increasing yields and shortening cycle time. WEED expects it can achieve an equivalent of over four harvests per year. Canopy has trimming and drying capacity to handle the full production of the BC Tweed facilities.”

In a research update to clients today, Landry maintained his “Buy” rating and one-year price target of (C) $72.00 on Canopy Growth Corp, implying a return of 20.7 per cent at the time of publication.

Landry thinks Canopy will post EBITDA of negative $216.6-million on revenue of $239-million in fiscal 2019. He expects those numbers will improve to EBITDA of negative $51.8-million on a topline of $799-million the following year.

The analyst adds that he thinks production cost of $0.50 per gram is achievable at Canopy;s BC facilities.

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Canopy Growth Creates New Division for Medical Businesses

SMITHS FALLS, ON, May 7, 2019 /PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is …

Visit the Canopy Growth Corp Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors.

Canopy Growth Introduces Spectrum Therapeutics

SMITHS FALLS, ON, May 7, 2019 /PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is pleased to introduce Spectrum Therapeutics, a new global brand that will encompass all of the Company’s ongoing commercial medical and clinical research operations including Spectrum Cannabis, Canopy Health Innovations (CHI), and the most recent addition to Canopy Growth’s medical portfolio, Bionorica SE-founded C3 Cannabinoid Compound Company (“C3“), a European leader in cannabinoid-based medical therapies.

Incorporating these entities into one unified ecosystem will integrate the Company’s medical efforts as one global healthcare enterprise. Spectrum Therapeutics now encompasses the production and distribution of full-spectrum and single cannabinoid medical cannabis products; industry-leading education, resources and support for patients and healthcare practitioners; as well as pre-clinical and clinical research and the development of cannabinoid-based medicines.

The recent acquisition of C3 will allow Spectrum Therapeutics to continue to advance leadership in medical cannabis globally by further expanding its ability to empower physicians in Europe and around the world with the knowledge and therapies drawn from a full range of cannabinoid-based medicines. This includes dronabinol, C3‘s cannabinoid pharmaceutical drug available in Germany, Austria, Switzerland, and Denmark. Dronabinol, while integrated into the Spectrum Therapeutics commercial offering, will continue to be marketed under C3‘s established and recognized branding, Bionorica Ethics.

We’ve always been a company that provides more than medical cannabis to our patients. We also offer education for patients and healthcare professionals and are engaged in research to define the safety and efficacy of cannabinoid medicines and the development of new cannabinoid-based treatments.

Dr. Mark Ware, Chief Medical Officer, Canopy Growth

Integrating our commercial medical businesses and clinical research arm under a single entity better reflects our position as a healthcare company that’s driving further acceptance of cannabinoids as mainstream medicine and addressing the medical and wellness needs of our patients worldwide.

In addition to providing commercially available medical cannabis products on five continents, Spectrum Therapeutics will continue to offer medical cannabis education for patients and healthcare professionals in countries with legal regulatory frameworks. Through the continuation of CHI and C3‘s respective clinical research programs, Spectrum Therapeutics will also focus on the research and development of clinically ready cannabinoid drug formulations and dosage formats. In addition to supporting drug registration, this research also support’s best-in-class physician and patient interaction and education for Spectrum Therapeutics’ commercial operations on a global basis.

Entities now under the Spectrum Therapeutics banner include:

  • Spectrum Cannabis: Known for its colour-coded spectrum to categorize medical cannabis according to THC and CBD levels, the commercial medical arm of the Company operates in 12 countries including Australia, Brazil, Canada, Chile, Colombia, Czech Republic, Denmark, Germany, Lesotho, Peru, Poland, and the United Kingdom. In Canada alone, the team has conducted 61,000+ healthcare professional visits.
  • Canopy Health Innovations (CHI): With 38 provisional patents filed in the US designed to address a range of medical issues, from addiction to pain management, Canopy Health Innovations continues to build a robust portfolio of IP, pre-clinical and clinical evidence to support cannabis-based medicines that deliver therapeutic value in areas of unmet medical need. Additionally, across five continents, CHI has 11 ongoing and planned therapeutic trials and another 11 third-party investigator-initiated trials supported by Spectrum Therapeutics. More than 900 patients will be enrolled in research trials testing the efficacy of cannabinoid-based therapies and more than 1800 patients are participating in the EQUAL program (Evaluation of Quality of Life) that will investigate the quality of life of patients before and after treatment with medical cannabis.
  • C3 Cannabinoid Compound Company (C3): C3 is Europe’s largest cannabinoid-based pharmaceuticals company. The company was founded in 2014 by Bionorica SE, one of the world’s leading producers of herbal medicines, as a holding company for the companies Bionorica ethics and THC Pharm. Both Bionorica ethics and THC Pharm have for almost two decades been researching and developing the key therapeutic ingredients of the cannabis flower: tetrahydrocannabinol (THC) and cannabidiol (CBD). One of the most significant of C3‘s medical offerings is dronabinol, a pure chemical compound with standardized concentrations of THC that can be prescribed by doctors in Germany for any type of chronic pain and for any condition in palliative care.

    Here’s to Future (Therapeutic) Growth.
About Canopy Growth Corporation

Canopy Growth (TSX:WEED,NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through the Company’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. The Company has operations in over a dozen countries across five continents.

The Company’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

The Company operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, Battelle, the world’s largest nonprofit research and development organization, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten licensed cannabis production sites with over 4.4 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Original press release

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