Canopy Growth (TSE:WEED) Trading Down 0.8% – Should You Sell?

Canopy Growth Corp (TSE:WEED)’s stock price dropped 0.8% during trading on Friday . The company traded as low as C$1.27 and last traded at C$1.28. Approximately 304,575 shares were traded during trading, a decline of 81% from the average session volume of 1,644,805 shares. The stock had previously closed at C$1.29.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut their price target on shares of Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Canopy Growth currently has a consensus rating of “Moderate Buy” and a consensus target price of C$1.88.

Canopy Growth Trading Down 0.8%

The company has a quick ratio of 2.32, a current ratio of 3.04 and a debt-to-equity ratio of 40.27. The company’s 50-day moving average is C$1.35 and its 200 day moving average is C$1.42. The company has a market cap of C$541.49 million, a price-to-earnings ratio of -1.91, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63.

Canopy Growth (TSE:WEED) last issued its quarterly earnings results on Friday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$81.17 million for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. Research analysts predict that Canopy Growth Corp will post -0.69 EPS for the current year.

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.