Canopy Growth (TSE:WEED) Stock Price Down 3.7% – Time to Sell?

Canopy Growth Corp (TSE:WEED)’s stock price dropped 3.7% during mid-day trading on Friday . The stock traded as low as C$2.36 and last traded at C$2.36. Approximately 1,629,687 shares traded hands during trading, a decline of 3% from the average daily volume of 1,684,592 shares. The stock had previously closed at C$2.45.

Wall Street Analysts Forecast Growth

WEED has been the subject of several research reports. ATB Capital reduced their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group dropped their target price on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat.com, Canopy Growth currently has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Performance

The firm has a fifty day moving average price of C$1.78 and a 200 day moving average price of C$2.90. The firm has a market capitalization of C$379.65 million, a PE ratio of -0.34, a P/E/G ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 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.