ATB Capital Cuts Canopy Growth (TSE:WEED) Price Target to C$3.20

Canopy Growth (TSE:WEED - Free Report) had its price target cut by ATB Capital from C$4.00 to C$3.20 in a research note published on Monday,BayStreet.CA reports. They currently have an underperform rating on the stock.

Separately, Canaccord Genuity Group lowered their target price on shares of Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of C$5.40.

Canopy Growth Price Performance

WEED stock traded up C$0.12 during mid-day trading on Monday, reaching C$2.68. 1,278,250 shares of the company traded hands, compared to its average volume of 1,873,167. Canopy Growth has a 52-week low of C$2.50 and a 52-week high of C$20.50. The company has a market capitalization of C$431.13 million, a P/E ratio of -0.39, a P/E/G ratio of -0.01 and a beta of 1.79. 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 company has a fifty day moving average price of C$3.72 and a 200-day moving average price of C$5.84.

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.