Canopy Growth (TSE:WEED) Trading 8.2% Higher

Canopy Growth Corp (TSE:WEED)’s share price traded up 8.2% during trading on Monday . The company traded as high as C$10.77 and last traded at C$10.58. 1,005,885 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,416,656 shares. The stock had previously closed at C$9.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. CIBC cut their target price on shares of Canopy Growth from C$4.50 to C$4.00 and set an “underperform” rating on the stock in a report on Friday, May 31st. Jefferies Financial Group lifted their target price on shares of Canopy Growth from C$4.90 to C$10.63 and gave the company a “hold” rating in a report on Tuesday, June 11th. ATB Capital set a C$10.00 target price on shares of Canopy Growth and gave the company a “sector perform” rating in a report on Tuesday, June 18th. Finally, Alliance Global Partners lifted their target price on shares of Canopy Growth from C$6.00 to C$11.00 in a report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$6.88.

Canopy Growth Stock Up 13.6 %

The company has a debt-to-equity ratio of 127.28, a quick ratio of 2.32 and a current ratio of 1.79. The firm’s 50-day moving average is C$10.57 and its 200 day moving average is C$8.92. The firm has a market capitalization of C$833.81 million, a PE ratio of -0.48, a price-to-earnings-growth ratio of -0.01 and a beta of 1.85.

Insider Buying and Selling

In other Canopy Growth news, Director Willy Kruh sold 3,738 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$9.94, for a total value of C$37,155.72. Insiders own 0.27% of the company’s stock.

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.