Canopy Growth (TSE:WEED) Trading Up 3.6% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WEED shares. ATB Capital lowered 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 report on Monday, February 10th. Canaccord Genuity Group dropped their price target 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 equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat.com, Canopy Growth has a consensus rating of “Reduce” and a consensus price target of C$5.64.

Canopy Growth Stock Down 1.2 %

The firm 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. 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 business has a 50-day moving average price of C$2.57 and a two-hundred day moving average price of C$4.59.

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.