Canopy Growth (TSE:WEED) Stock Price Up 6% – Here’s What Happened

Shares of Canopy Growth Corp (TSE:WEED) rose 6% during trading on Monday . The company traded as high as C$5.92 and last traded at C$5.81. Approximately 1,546,871 shares were traded during trading, a decline of 27% from the average daily volume of 2,124,644 shares. The stock had previously closed at C$5.48.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their price objective on shares of Canopy Growth from C$5.00 to C$3.50 and set a “sell” rating on the stock in a report on Monday, August 12th.

Canopy Growth Stock Up 6.0 %

The firm’s 50-day moving average is C$6.15 and its 200 day moving average is C$8.57. The stock has a market cap of C$493.04 million, a price-to-earnings ratio of -0.73, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32.

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.