Canopy Growth (TSE:WEED) Trading Up 5.3% – Should You Buy?

Canopy Growth Corp (TSE:WEED)’s stock price was up 5.3% during mid-day trading on Friday . The stock traded as high as C$1.99 and last traded at C$1.99. Approximately 526,186 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,560,325 shares. The stock had previously closed at C$1.89.

Analyst Upgrades and Downgrades

WEED has been the topic of several analyst reports. 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 report on Monday, February 10th. ATB Capital dropped their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Performance

The stock has a 50 day simple moving average of C$1.63 and a 200 day simple moving average of C$3.13. The company has a market cap of C$368.39 million, a price-to-earnings ratio of -0.33, a PEG ratio of -0.01 and a beta of 1.79. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38.

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.