Shares of Canopy Growth Corp (TSE:WEED - Get Free Report) traded up 23.1% on Wednesday . The stock traded as high as C$3.64 and last traded at C$3.62. 1,464,222 shares were traded during trading, an increase of 17% from the average session volume of 1,255,816 shares. The stock had previously closed at C$2.94.
Wall Street Analysts Forecast Growth
Separately, ATB Capital downgraded shares of Canopy Growth from a "sector perform" rating to an "underperform" rating and reduced their price target for the company from C$6.00 to C$4.00 in a research note on Tuesday, December 17th.
Check Out Our Latest Stock Analysis on Canopy Growth
Canopy Growth Price Performance
The company has a market capitalization of C$245.25 million, a PE ratio of -0.37, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The company's 50 day simple moving average is C$3.86 and its 200 day simple moving average is C$5.99.
About Canopy Growth
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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.
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