Canopy Growth (TSE:WEED) Hits New 52-Week Low – Here’s Why

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low on Monday . The company traded as low as C$2.71 and last traded at C$2.88, with a volume of 778942 shares traded. The stock had previously closed at C$2.87.

Analyst Upgrades and Downgrades

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

Canopy Growth Price Performance

The company has a market capitalization of C$242.70 million, a price-to-earnings ratio of -0.36, a P/E/G ratio of -0.01 and a beta of 1.79. The company has a fifty day simple moving average of C$4.09 and a two-hundred day simple moving average of C$6.22. The company has a debt-to-equity ratio of 117.00, a quick ratio of 2.32 and a current ratio of 2.15.

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.