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

Canopy Growth Corp (TSE:WEED)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as C$2.51 and last traded at C$2.48, with a volume of 736176 shares. The stock had previously closed at C$2.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WEED shares. ATB Capital decreased their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group decreased their target price on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Price Performance

The company has a market capitalization of C$365.17 million, a price-to-earnings ratio of -0.33, a P/E/G ratio of -0.01 and a beta of 1.79. The stock has a fifty day simple moving average of C$3.48 and a 200-day simple moving average of C$5.58. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32.

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.