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

Canopy Growth Corp (TSE:WEED)’s share price reached 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.

Analyst Ratings Changes

WEED has been the topic of several research analyst reports. ATB Capital cut their target price on shares of Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group reduced their price objective on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of C$5.64.

Canopy Growth Trading Down 6.0 %

The firm has a market capitalization of C$228.43 million, a PE ratio of -0.21, a PEG ratio of -0.01 and a beta of 1.79. The firm’s fifty day moving average is C$2.35 and its two-hundred day moving average is C$4.36. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32.

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.