Canopy Growth (TSE:WEED) Stock Price Down 0.6% – Here’s Why

Canopy Growth Corp (TSE:WEED) shares were down 0.6% on Wednesday . The company traded as low as C$1.55 and last traded at C$1.60. Approximately 1,733,970 shares traded hands during trading, a decline of 35% from the average daily volume of 2,658,875 shares. The stock had previously closed at C$1.61.

Analyst Upgrades and Downgrades

WEED has been the subject of a number of analyst reports. Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. Sanford C. Bernstein reduced their target price on Canopy Growth from C$5.30 to C$2.50 in a report on Wednesday, January 14th. Finally, ATB Capital lowered their price target on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating for the company in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average price target of C$1.80.

Canopy Growth Trading Down 0.6%

The business has a 50 day simple moving average of C$1.73 and a 200-day simple moving average of C$1.79. The stock has a market capitalization of C$604.58 million, a price-to-earnings ratio of -0.60, a PEG ratio of -0.01 and a beta of 1.76. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32.

Canopy Growth (TSE:WEED) last issued its quarterly earnings data on Friday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. The business had revenue of C$66.68 million during the quarter. As a group, equities analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current year.

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, 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.