Canopy Growth (TSE:WEED) Reaches New 52-Week Low – Here’s What Happened

Canopy Growth Corp (TSE:WEED)’s share price hit a new 52-week low during trading on Monday . The company traded as low as C$1.81 and last traded at C$1.82, with a volume of 1131063 shares. The stock had previously closed at C$2.03.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WEED. ATB Capital cut their target price on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group lowered 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 note on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The company has a market cap of C$286.34 million, a price-to-earnings ratio of -0.26, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The stock has a 50-day moving average price of C$3.19 and a 200 day moving average price of C$5.21.

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.