Canopy Growth (TSE:WEED) Trading Up 3.6% – Here’s Why

Shares of Canopy Growth Corp (TSE:WEED) rose 3.6% on Tuesday . The stock traded as high as C$1.89 and last traded at C$1.74. Approximately 679,652 shares were traded during trading, a decline of 56% from the average daily volume of 1,532,193 shares. The stock had previously closed at C$1.68.

Wall Street Analysts Forecast Growth

WEED has been the topic of several research analyst reports. ATB Capital dropped their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group dropped their price target on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research note on Monday, February 10th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The stock has a market cap of C$278.30 million, a price-to-earnings ratio of -0.25, a PEG ratio of -0.01 and a beta of 1.79. The firm has a fifty day moving average of C$2.66 and a 200 day moving average of C$4.67.

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.