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

Canopy Growth Corp (TSE:WEED) shares 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 traded. The stock had previously closed at C$3.79.

Analyst Upgrades and Downgrades

Separately, ATB Capital cut Canopy Growth from a “sector perform” rating to an “underperform” rating and decreased 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 Performance

The stock has a fifty day simple moving average of C$4.97 and a two-hundred day simple moving average of C$6.88. The company has a debt-to-equity ratio of 117.00, a quick ratio of 2.32 and a current ratio of 2.15. The stock has a market capitalization of C$301.25 million, a price-to-earnings ratio of -0.45, a P/E/G 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.