Canopy Growth (TSE:WEED) Trading 3.6% Higher – Here’s Why

Shares of Canopy Growth Corp (TSE:WEED) were up 3.6% on Tuesday . The company traded as high as C$1.89 and last traded at C$1.74. Approximately 679,652 shares traded hands during trading, a decline of 56% from the average daily volume of 1,532,193 shares. The stock had previously closed at C$1.68.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research note on Monday, February 10th. ATB Capital reduced their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat, Canopy Growth has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Trading Down 1.2 %

The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The company has a 50 day moving average of C$2.57 and a two-hundred day moving average of C$4.59. The stock has a market cap of C$262.21 million, a PE ratio of -0.24, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

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.