Canopy Growth (TSE:WEED) Hits New 52-Week Low – Here’s Why

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low on Monday . The stock traded as low as C$2.71 and last traded at C$2.88, with a volume of 778942 shares changing hands. The stock had previously closed at C$2.87.

Analysts Set New Price Targets

Separately, ATB Capital lowered shares of Canopy Growth from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from C$6.00 to C$4.00 in a research report on Tuesday, December 17th.

Canopy Growth Trading Up 24.1 %

The firm’s 50-day simple moving average is C$3.98 and its 200-day simple moving average is C$6.15. The firm has a market capitalization of C$309.74 million, a P/E ratio of -0.46, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a quick ratio of 2.32, a current ratio of 2.15 and a debt-to-equity ratio of 117.00.

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.