Canopy Growth Corp (TSE:WEED)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$25.23 and last traded at C$25.34, with a volume of 837711 shares traded. The stock had previously closed at C$25.62.
Several equities analysts have weighed in on WEED shares. Desjardins restated a “hold” rating and set a C$46.00 price target on shares of Canopy Growth in a report on Tuesday. CIBC cut their price target on Canopy Growth from C$50.00 to C$45.00 in a report on Friday, October 4th. Bank of America cut Canopy Growth from a “buy” rating to a “neutral” rating in a report on Friday, September 27th. Jefferies Financial Group cut their price target on Canopy Growth from C$77.00 to C$25.00 in a report on Friday, October 11th. Finally, Benchmark cut their price target on Canopy Growth from C$100.00 to C$60.00 in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Canopy Growth currently has a consensus rating of “Hold” and an average price target of C$55.90.
The company has a current ratio of 10.37, a quick ratio of 8.80 and a debt-to-equity ratio of 37.27. The stock has a market capitalization of $8.78 billion and a P/E ratio of -4.55. The stock has a 50 day moving average of C$28.64 and a 200-day moving average of C$44.42.
About Canopy Growth (TSE:WEED)
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.
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