Canopy Growth (TSE:WEED) Stock Price Up 23.1% – Here’s Why

Canopy Growth Corp (TSE:WEED)’s share price was up 23.1% on Wednesday . The company traded as high as C$3.64 and last traded at C$3.62. Approximately 1,464,222 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 1,255,816 shares. The stock had previously closed at C$2.94.

Analyst Ratings Changes

Separately, ATB Capital lowered Canopy Growth from a “sector perform” rating to an “underperform” rating and cut their price target for the company from C$6.00 to C$4.00 in a research note on Tuesday, December 17th.

Canopy Growth Trading Up 22.8 %

The company has a market cap of C$306.34 million, a price-to-earnings ratio of -0.46, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The firm has a 50-day moving average price of C$3.98 and a 200 day moving average price of C$6.15. The company has a current ratio of 2.15, a quick ratio of 2.32 and a debt-to-equity ratio of 117.00.

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.