Canopy Growth (TSE:WEED) Trading Down 3.8%

Canopy Growth Corp (TSE:WEED)’s stock price traded down 3.8% during trading on Tuesday . The stock traded as low as C$6.26 and last traded at C$6.26. 168,842 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,100,711 shares. The stock had previously closed at C$6.51.

Wall Street Analysts Forecast Growth

WEED has been the topic of several research analyst reports. ATB Capital set a C$10.00 target price on Canopy Growth and gave the company a “sector perform” rating in a research note on Tuesday, June 18th. Alliance Global Partners boosted their price target on shares of Canopy Growth from C$6.00 to C$11.00 in a report on Tuesday, June 4th. Canaccord Genuity Group cut their price objective on Canopy Growth from C$5.00 to C$3.50 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Jefferies Financial Group boosted their target price on Canopy Growth from C$4.90 to C$10.63 and gave the company a “hold” rating in a research note on Tuesday, June 11th.

Canopy Growth Trading Down 6.3 %

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$517.65 million, a price-to-earnings ratio of -0.77, a PEG ratio of -0.01 and a beta of 1.81. The company’s 50 day moving average is C$7.97 and its 200 day moving average is C$9.88.

Insider Activity

In other Canopy Growth news, Director David Eric Klein sold 40,135 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of C$8.35, for a total value of C$335,303.84. In other news, Director David Eric Klein sold 40,135 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of C$8.35, for a total value of C$335,303.84. Also, Senior Officer Christelle Gedeon sold 16,788 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of C$8.35, for a total value of C$140,253.67. 0.27% of the stock is currently owned by company insiders.

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.