Canopy Growth (TSE:WEED) Hits New 1-Year Low - Should You Sell?

Canopy Growth Corp (TSE:WEED - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$2.51 and last traded at C$2.48, with a volume of 736176 shares traded. The stock had previously closed at C$2.68.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEED. ATB Capital reduced their price objective on Canopy Growth from C$4.00 to C$3.20 and set an "underperform" rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price objective on Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating on the stock in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of C$5.64.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The company has a market cap of C$371.60 million, a P/E ratio of -0.34, a P/E/G ratio of -0.01 and a beta of 1.79. The firm has a 50 day moving average price of C$3.39 and a 200-day moving average price of C$5.47.

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.