Canaccord Genuity Group Cuts Canopy Growth (TSE:WEED) Price Target to C$1.50

Canopy Growth (TSE:WEED) had its price objective decreased by Canaccord Genuity Group from C$2.50 to C$1.50 in a research report released on Monday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a sell rating on the stock.

Separately, ATB Capital cut Canopy Growth from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from C$6.00 to C$4.00 in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of C$5.40.

Canopy Growth Stock Performance

WEED opened at C$2.56 on Monday. The firm has a market cap of C$217.24 million, a PE ratio of -0.32, a P/E/G ratio of -0.01 and a beta of 1.79. The company has a quick ratio of 2.32, a current ratio of 2.15 and a debt-to-equity ratio of 117.00. The business has a fifty day simple moving average of C$3.77 and a 200-day simple moving average of C$5.90. Canopy Growth has a fifty-two week low of C$2.50 and a fifty-two week high of C$20.50.

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.