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

Canopy Growth (TSE:WEED) had its price objective cut by Canaccord Genuity Group from C$2.50 to C$1.50 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have a sell rating on the stock.

Separately, ATB Capital cut shares of Canopy Growth from a “sector perform” rating to an “underperform” rating and dropped their price objective 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 issued a hold rating to the stock. Based on data from MarketBeat.com, Canopy Growth has an average rating of “Reduce” and a consensus target price of C$5.40.

Canopy Growth Stock Down 1.5 %

Shares of WEED opened at C$2.56 on Monday. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The business’s 50 day simple moving average is C$3.77 and its 200-day simple moving average is C$5.90. Canopy Growth has a one year low of C$2.50 and a one year high of C$20.50. The company has a market capitalization of C$217.24 million, a P/E ratio of -0.32, 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.