Canopy Growth (TSE:WEED) Price Target Lowered to C$1.50 at Canaccord Genuity Group

Canopy Growth (TSE:WEED) had its price target decreased by investment analysts at Canaccord Genuity Group from C$2.50 to C$1.50 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “sell” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 46.81% from the company’s current price.

Separately, ATB Capital downgraded Canopy Growth from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from C$6.00 to C$4.00 in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of C$5.40.

Canopy Growth Price Performance

Shares of Canopy Growth stock traded down C$0.07 on Monday, hitting C$2.82. The company had a trading volume of 2,049,962 shares, compared to its average volume of 1,871,936. Canopy Growth has a 52 week low of C$2.71 and a 52 week high of C$20.50. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The company has a market cap of C$239.31 million, a PE ratio of -0.36, a PEG ratio of -0.01 and a beta of 1.79. The business has a 50-day simple moving average of C$3.86 and a 200-day simple moving average of C$5.99.

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.