Cannabis Stocks To Watch Today – May 17th

Gibraltar Industries, Incannex Healthcare, Canopy Growth, Tilray, and Turning Point Brands are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies involved in the cultivation, processing, distribution or ancillary services of cannabis and hemp products. Investors buy and sell these equities to gain exposure to the legal marijuana market’s growth potential. Performance of cannabis stocks often reflects changes in regulation, consumer demand and broader market sentiment. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

Gibraltar Industries (ROCK)

Gibraltar Industries, Inc. manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.

Shares of ROCK traded up $1.27 during mid-day trading on Friday, hitting $62.50. The stock had a trading volume of 1,383,289 shares, compared to its average volume of 225,577. The company’s fifty day simple moving average is $57.43 and its two-hundred day simple moving average is $62.24. Gibraltar Industries has a fifty-two week low of $48.96 and a fifty-two week high of $81.90. The company has a market cap of $1.84 billion, a PE ratio of 13.98 and a beta of 1.30.

Incannex Healthcare (IXHL)

Incannex Healthcare Inc., a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.

Shares of NASDAQ IXHL traded down $0.01 during mid-day trading on Friday, hitting $0.26. The company had a trading volume of 219,208,393 shares, compared to its average volume of 8,873,611. Incannex Healthcare has a 12 month low of $0.08 and a 12 month high of $3.55. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.80 and a quick ratio of 1.65. The firm’s 50 day simple moving average is $0.54 and its two-hundred day simple moving average is $1.40. The stock has a market cap of $4.64 million, a price-to-earnings ratio of -0.19 and a beta of 7.67.

Canopy Growth (CGC)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

CGC stock traded up $0.32 on Friday, reaching $1.66. The company’s stock had a trading volume of 14,584,235 shares, compared to its average volume of 5,782,825. The firm has a fifty day moving average of $1.16 and a two-hundred day moving average of $2.23. The company has a market capitalization of $305.22 million, a P/E ratio of -0.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.52 and a quick ratio of 2.58. Canopy Growth has a 52 week low of $0.77 and a 52 week high of $11.65.

Tilray (TLRY)

Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc. is headquartered in Canada.

Shares of Tilray stock traded up $0.06 on Friday, hitting $0.50. The company had a trading volume of 37,838,118 shares, compared to its average volume of 28,292,382. The business has a 50-day simple moving average of $0.53 and a 200-day simple moving average of $0.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market cap of $498.22 million, a PE ratio of -1.65 and a beta of 1.95. Tilray has a 52 week low of $0.41 and a 52 week high of $2.15.

Turning Point Brands (TPB)

Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

Shares of NYSE:TPB traded up $1.47 during trading hours on Friday, hitting $73.44. 243,350 shares of the company’s stock traded hands, compared to its average volume of 168,036. The company’s fifty day simple moving average is $60.69 and its two-hundred day simple moving average is $60.64. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.14 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a 52 week low of $30.61 and a 52 week high of $81.05.