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

Canopy Growth Corp (TSE:WEED)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$2.20 and last traded at C$2.33, with a volume of 869901 shares changing hands. The stock had previously closed at C$2.31.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their price target on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a report on Monday, February 10th. ATB Capital dropped their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat.com, Canopy Growth has a consensus rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Stock Up 0.4 %

The stock has a market cap of C$373.21 million, a price-to-earnings ratio of -0.34, a P/E/G ratio of -0.01 and a beta of 1.79. The business has a fifty day moving average of C$3.39 and a 200 day moving average of C$5.45. 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.