Canopy Growth Corp (TSE:WEED) hit a new 52-week low on Wednesday . The stock traded as low as C$24.56 and last traded at C$24.78, with a volume of 927298 shares traded. The stock had previously closed at C$25.42.
Several research firms recently commented on WEED. CIBC cut their price target on Canopy Growth from C$50.00 to C$45.00 in a research note on Friday, October 4th. Desjardins reiterated a “hold” rating and issued a C$46.00 price target on shares of Canopy Growth in a research note on Tuesday, November 5th. Bank of America cut Canopy Growth from a “buy” rating to a “neutral” rating in a research note on Friday, September 27th. Cormark cut Canopy Growth from a “buy” rating to a “market perform” rating and cut their price target for the stock from C$55.00 to C$48.00 in a research note on Friday, August 16th. Finally, Canaccord Genuity cut their price target on Canopy Growth from C$70.00 to C$60.00 in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Canopy Growth presently has an average rating of “Hold” and a consensus target price of C$55.90.
The company has a 50 day simple moving average of C$28.26 and a 200-day simple moving average of C$43.89. The stock has a market cap of $8.75 billion and a price-to-earnings ratio of -3.97. The company has a quick ratio of 8.80, a current ratio of 10.37 and a debt-to-equity ratio of 37.27.
Canopy Growth Company Profile (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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