Canopy Growth (TSE:WEED) Stock Price Up 6% – Here’s What Happened

Canopy Growth Corp (TSE:WEED)’s share price shot up 6% during trading on Monday . The stock traded as high as C$5.92 and last traded at C$5.81. 1,546,871 shares changed hands during trading, a decline of 27% from the average session volume of 2,124,644 shares. The stock had previously closed at C$5.48.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price objective on shares of Canopy Growth from C$5.00 to C$3.50 and set a “sell” rating for the company in a research report on Monday, August 12th.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The firm has a market capitalization of C$493.04 million, a price-to-earnings ratio of -0.73, a PEG ratio of -0.01 and a beta of 1.79. The firm’s fifty day moving average is C$6.15 and its 200 day moving average is C$8.57.

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.