Canopy Growth (TSE:WEED) Stock Price Up 16.6%

Canopy Growth Corp (TSE:WEED)’s stock price rose 16.6% on Friday . The stock traded as high as C$13.97 and last traded at C$13.83. Approximately 1,392,670 shares traded hands during trading, a decline of 46% from the average daily volume of 2,574,283 shares. The stock had previously closed at C$11.86.

Wall Street Analyst Weigh In

WEED has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price objective on shares of Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating for the company in a research report on Tuesday, February 27th. Bank of America reduced their price objective on shares of Canopy Growth from C$7.00 to C$4.00 in a research report on Wednesday, February 14th. Finally, Sanford C. Bernstein boosted their price objective on shares of Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th.

Canopy Growth Stock Performance

The firm’s 50-day moving average is C$7.99 and its 200 day moving average is C$4.87. The stock has a market cap of C$1.11 billion, a PE ratio of -0.59, a P/E/G ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 127.28, a quick ratio of 2.32 and a current ratio of 1.79.

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.