Canopy Growth (TSE:WEED) Sets New 1-Year Low – Here’s Why

Shares of Canopy Growth Corp (TSE:WEED) hit a new 52-week low during trading on Friday . The stock traded as low as C$1.18 and last traded at C$1.27, with a volume of 846282 shares. The stock had previously closed at C$1.38.

Analysts Set New Price Targets

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

Canopy Growth Trading Down 5.8 %

The company’s fifty day moving average price is C$2.13 and its two-hundred day moving average price is C$4.14. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The company has a market cap of C$209.13 million, a price-to-earnings ratio of -0.19, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

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.