Canopy Growth (TSE:WEED) Downgraded by ATB Capital to “Underperform”

ATB Capital downgraded shares of Canopy Growth (TSE:WEED) from a sector perform rating to an underperform rating in a research note released on Tuesday morning,BayStreet.CA reports. ATB Capital currently has C$4.00 price objective on the stock, down from their prior price objective of C$6.00.

Canopy Growth Stock Performance

WEED stock opened at C$4.38 on Tuesday. Canopy Growth has a one year low of C$3.74 and a one year high of C$20.50. The firm has a market cap of C$371.69 million, a price-to-earnings ratio of -0.55, a PEG ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a quick ratio of 2.32 and a current ratio of 2.15. The firm has a 50-day simple moving average of C$5.74 and a two-hundred day simple moving average of C$7.64.

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.