Canopy Growth (TSE:WEED) Sets New 52-Week Low – Here’s Why

Canopy Growth Corp (TSE:WEED) hit a new 52-week low during trading on Friday . The stock traded as low as C$3.44 and last traded at C$3.53, with a volume of 1256875 shares. The stock had previously closed at C$3.79.

Wall Street Analyst Weigh In

Separately, ATB Capital downgraded shares of Canopy Growth from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from C$6.00 to C$4.00 in a research note on Tuesday, December 17th.

Canopy Growth Stock Down 6.3 %

The stock has a market capitalization of C$301.25 million, a price-to-earnings ratio of -0.45, a price-to-earnings-growth 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 stock has a 50 day moving average price of C$4.97 and a 200 day moving average price of C$6.88.

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.