Canopy Growth (TSE:WEED) Trading Up 16.6%

Shares of Canopy Growth Corp (TSE:WEED) rose 16.6% during mid-day trading on Friday . The stock traded as high as C$13.97 and last traded at C$13.83. Approximately 1,392,670 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 2,574,283 shares. The stock had previously closed at C$11.86.

Wall Street Analyst Weigh In

WEED has been the subject of a number of recent research reports. Sanford C. Bernstein increased their price objective on shares of Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th. Bank of America dropped their target price on Canopy Growth from C$7.00 to C$4.00 in a report on Wednesday, February 14th. Finally, Jefferies Financial Group dropped 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 note on Tuesday, February 27th.

Canopy Growth Price Performance

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 firm has a market capitalization of C$1.11 billion, a price-to-earnings ratio of -0.57, a P/E/G ratio of -0.01 and a beta of 1.63. The company’s 50 day moving average is C$8.13 and its 200-day moving average is C$4.97.

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.