Canopy Growth (TSE:WEED) Trading Up 3.6% - Here's What Happened

Canopy Growth Corp (TSE:WEED - Get Free Report)'s stock price was up 3.6% on Tuesday . The company traded as high as C$1.89 and last traded at C$1.74. Approximately 679,652 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,532,193 shares. The stock had previously closed at C$1.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WEED shares. Canaccord Genuity Group decreased their price target on Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating for the company in a research report on Monday, February 10th. 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 note on Monday, February 10th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of C$5.64.

Canopy Growth Price Performance

The stock has a 50 day moving average price of C$2.48 and a two-hundred day moving average price of C$4.49. 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 capitalization of C$260.61 million, a PE ratio of -0.24, a P/E/G 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.