Canopy Growth (TSE:WEED) Sets New 12-Month Low – Should You Sell?

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$1.18 and last traded at C$1.27, with a volume of 846282 shares changing hands. The stock had previously closed at C$1.38.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. ATB Capital reduced their target price on shares of Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group reduced their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research note on Monday, February 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Down 5.8 %

The firm’s 50 day simple moving average is C$2.13 and its 200-day simple moving average is C$4.14. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38. The stock has a market capitalization of C$209.13 million, a price-to-earnings ratio of -0.19, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

Canopy Growth Company 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, CraftGrow, and Foria brand names.