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

Canopy Growth Corp (TSE:WEED)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$1.48 and last traded at C$1.49, with a volume of 702851 shares traded. The stock had previously closed at C$1.58.

Wall Street Analyst Weigh In

Several research analysts recently commented on WEED shares. ATB Capital reduced their price objective 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. Canaccord Genuity Group reduced their target price on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research report on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Trading Down 5.7 %

The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The company’s 50-day moving average is C$2.42 and its 200-day moving average is C$4.44. The stock has a market capitalization of C$239.69 million, a price-to-earnings ratio of -0.22, a PEG ratio of -0.01 and a beta of 1.79.

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.