Canopy Growth (TSE:WEED) Reaches New 52-Week Low After Analyst Downgrade

Canopy Growth Corp (TSE:WEED - Get Free Report)'s stock price reached a new 52-week low during trading on Monday after ATB Capital lowered their price target on the stock from C$4.00 to C$3.20. ATB Capital currently has an underperform rating on the stock. Canopy Growth traded as low as C$2.74 and last traded at C$2.82, with a volume of 2140477 shares traded. The stock had previously closed at C$2.89.

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

Canopy Growth Stock Up 4.7 %

The firm has a fifty day moving average of C$3.72 and a 200-day moving average of C$5.84. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The firm has a market cap of C$431.13 million, a P/E ratio of -0.39, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

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.