Canopy Growth (TSE:WEED) Trading Down 0.6% – Here’s What Happened

Canopy Growth Corp (TSE:WEED)’s stock price fell 0.6% on Friday . The stock traded as low as C$1.56 and last traded at C$1.57. 2,729,295 shares were traded during mid-day trading, an increase of 36% from the average session volume of 2,000,828 shares. The stock had previously closed at C$1.58.

Analyst Ratings Changes

A number of equities analysts have commented on WEED shares. Sanford C. Bernstein decreased their price objective on shares of Canopy Growth from C$5.30 to C$2.50 in a report on Wednesday, January 14th. Canaccord Genuity Group set a C$2.00 target price on shares of Canopy Growth and gave the stock a “speculative buy” rating in a report on Friday, March 27th. Finally, ATB Cormark Capital Markets raised shares of Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 target price for the company in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$1.97.

Canopy Growth Stock Performance

The stock’s 50-day moving average price is C$1.45 and its 200-day moving average price is C$1.65. The company has a market cap of C$663.83 million, a P/E ratio of -0.84, a PEG ratio of -0.01 and a beta of 1.45. The company has a debt-to-equity ratio of 35.93, a current ratio of 5.34 and a quick ratio of 2.32.

Canopy Growth (TSE:WEED) last announced its earnings results on Friday, February 6th. The company reported C($0.18) earnings per share (EPS) for the quarter. The business had revenue of C$74.54 million during the quarter. Canopy Growth had a negative net margin of 117.31% and a negative return on equity of 52.88%. Equities analysts anticipate that Canopy Growth Corp will post -0.69 EPS for the current year.

About Canopy Growth

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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.