Canopy Growth (TSE:WEED) Reaches New 1-Year Low - Time to Sell?

Canopy Growth Corp (TSE:WEED - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$1.48 and last traded at C$1.49, with a volume of 702851 shares traded. The stock had previously closed at C$1.58.

Analysts Set New Price Targets

Several analysts have recently weighed in on WEED shares. Canaccord Genuity Group lowered their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating for the company in a research note on Monday, February 10th. ATB Capital reduced their target price on Canopy Growth from C$4.00 to C$3.20 and set an "underperform" rating for the company in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of C$5.64.

Canopy Growth Stock Performance

The company has a market cap of C$228.43 million, a PE ratio of -0.21, a PEG ratio of -0.01 and a beta of 1.79. The company has a 50-day moving average of C$2.31 and a 200-day moving average of C$4.32. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38.

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.