Canopy Growth (TSE:WEED) Hits New 1-Year Low at $2.71

Canopy Growth Corp (TSE:WEED – Get Rating)’s stock price reached a new 52-week low on Friday . The stock traded as low as C$2.71 and last traded at C$2.77, with a volume of 453759 shares traded. The stock had previously closed at C$2.80.

Wall Street Analysts Forecast Growth

WEED has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of Canopy Growth from C$4.95 to C$3.65 in a research report on Tuesday, February 28th. Benchmark set a C$2.00 price target on Canopy Growth in a research report on Friday, February 10th. Stifel Nicolaus reduced their price objective on Canopy Growth from C$2.90 to C$2.40 in a research report on Friday, February 10th. CIBC dropped their target price on Canopy Growth from C$2.50 to C$1.75 and set an “underperform” rating for the company in a report on Friday, February 10th. Finally, Eight Capital reduced their price target on Canopy Growth from C$2.75 to C$1.75 in a report on Friday, February 10th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$4.79.

Canopy Growth Stock Performance

The firm’s fifty day moving average is C$3.34 and its 200-day moving average is C$3.87. The company has a current ratio of 1.73, a quick ratio of 2.32 and a debt-to-equity ratio of 91.98. The stock has a market capitalization of C$1.37 billion, a PE ratio of -0.39, a price-to-earnings-growth ratio of -0.01 and a beta of 2.28.

About Canopy Growth

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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.