Canaccord Genuity Group Cuts Canopy Growth (TSE:WEED) Price Target to C$1.50

Canopy Growth (TSE:WEED - Get Free Report) had its target price lowered by equities research analysts at Canaccord Genuity Group from C$2.50 to C$1.50 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "sell" rating on the stock. Canaccord Genuity Group's price objective indicates a potential downside of 44.03% from the stock's previous close.

Separately, ATB Capital lowered Canopy Growth from a "sector perform" rating to an "underperform" rating and lowered their price objective for the stock from C$6.00 to C$4.00 in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of C$5.40.

Canopy Growth Trading Up 4.7 %

TSE WEED traded up C$0.12 on Monday, reaching C$2.68. The company had a trading volume of 1,278,250 shares, compared to its average volume of 1,873,167. Canopy Growth has a fifty-two week low of C$2.50 and a fifty-two week high of C$20.50. 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 firm has a market cap 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 business has a 50 day moving average of C$3.72 and a two-hundred day moving average 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.