Canopy Growth (TSE:WEED) Price Target Cut to C$3.20 by Analysts at ATB Capital

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

Separately, Canaccord Genuity Group decreased their price objective on Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating for the company in a report on Monday. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of C$5.40.

Canopy Growth Price Performance

Shares of WEED stock remained flat at C$2.68 on Monday. The stock had a trading volume of 909,932 shares, compared to its average volume of 1,844,812. The stock has a market capitalization of C$431.13 million, a price-to-earnings ratio of -0.39, a P/E/G ratio of -0.01 and a beta of 1.79. The company's fifty day simple moving average is C$3.67 and its 200-day simple moving average is C$5.79. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38. Canopy Growth has a fifty-two week low of C$2.50 and a fifty-two week high of C$20.50.

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.