Canopy Growth (TSE:WEED) Trading Up 2.8% – Here’s Why

Canopy Growth Corp (TSE:WEED)’s stock price was up 2.8% during mid-day trading on Thursday . The company traded as high as C$2.62 and last traded at C$2.55. Approximately 497,471 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,625,473 shares. The stock had previously closed at C$2.48.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WEED shares. ATB Capital decreased their price objective on shares of 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 decreased their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company 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 stock. Based on data from MarketBeat.com, Canopy Growth has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Performance

The stock has a market cap of C$403.78 million, a price-to-earnings ratio of -0.37, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The stock’s 50-day simple moving average is C$1.72 and its two-hundred day simple moving average is C$3.00.

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.