Canopy Growth (TSE:WEED) Stock Price Down 1.3% – Time to Sell?

Canopy Growth Corp (TSE:WEED) shares dropped 1.3% during mid-day trading on Thursday . The company traded as low as C$1.46 and last traded at C$1.48. Approximately 1,193,758 shares were traded during trading, a decline of 45% from the average daily volume of 2,179,330 shares. The stock had previously closed at C$1.50.

Analysts Set New Price Targets

WEED has been the subject of a number of recent research reports. Canaccord Genuity Group set a C$2.00 price target on shares of Canopy Growth and gave the stock a “speculative buy” rating in a research report on Friday, March 27th. ATB Cormark Capital Markets raised shares of Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price target for the company in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$1.97.

Canopy Growth Stock Down 4.1%

The firm has a market cap of C$600.40 million, a price-to-earnings ratio of -0.76, a PEG ratio of -0.01 and a beta of 1.61. The business’s 50 day moving average price is C$1.47 and its 200 day moving average price is C$1.59. The company has a debt-to-equity ratio of 35.93, a quick ratio of 2.32 and a current ratio of 5.34.

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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.