Canopy Growth (TSE:WEED) Hits New 12-Month Low – Here’s What Happened

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$2.51 and last traded at C$2.48, with a volume of 736176 shares changing hands. The stock had previously closed at C$2.68.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEED. ATB Capital decreased their target price on shares of 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 decreased their target price 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 analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat, Canopy Growth has a consensus rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Down 9.7 %

The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The company has a market capitalization of C$389.30 million, a price-to-earnings ratio of -0.35, a P/E/G ratio of -0.01 and a beta of 1.79. The stock’s fifty day simple moving average is C$3.57 and its two-hundred day simple moving average is C$5.69.

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.