Canopy Growth (TSE:WEED) Shares Down 6.4%

Shares of Canopy Growth Corp (TSE:WEED) traded down 6.4% during mid-day trading on Monday . The stock traded as low as C$9.92 and last traded at C$10.02. 473,831 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,536,590 shares. The stock had previously closed at C$10.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Sanford C. Bernstein upped their price objective on Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th. Bank of America lowered their price objective on Canopy Growth from C$7.00 to C$4.00 in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group lowered their price objective on Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating on the stock in a research report on Tuesday, February 27th.

Canopy Growth Stock Performance

The firm has a market capitalization of C$841.86 million, a PE ratio of -0.43, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63. The company has a current ratio of 1.79, a quick ratio of 2.32 and a debt-to-equity ratio of 127.28. The business’s 50 day simple moving average is C$7.16 and its two-hundred day simple moving average is C$4.42.

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.