Canopy Growth (TSE:WEED) Sets New 12-Month Low – Here’s What Happened

Canopy Growth Corp (TSE:WEED) hit a new 52-week low on Monday . The stock traded as low as C$1.58 and last traded at C$1.60, with a volume of 522700 shares traded. The stock had previously closed at C$1.69.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target 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. ATB Capital reduced their target price on shares of Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a research note on Monday, February 10th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Stock Performance

The company’s 50 day simple moving average is C$2.96 and its 200 day simple moving average is C$4.94. The stock has a market cap of C$259.00 million, a price-to-earnings ratio of -0.23, a PEG 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.

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.