Canopy Growth (TSE:WEED) Shares Up 29.3% – Should You Buy?

Canopy Growth Corp (TSE:WEED)’s share price rose 29.3% on Friday . The company traded as high as C$2.05 and last traded at C$2.03. Approximately 7,264,971 shares changed hands during trading, an increase of 167% from the average daily volume of 2,716,011 shares. The stock had previously closed at C$1.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WEED shares. ATB Capital decreased their price objective on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating for the company in a report on Thursday. Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canopy Growth has a consensus rating of “Sell” and a consensus target price of C$1.45.

Canopy Growth Stock Up 52.9%

The firm has a market cap of C$821.27 million, a P/E ratio of -0.90, a price-to-earnings-growth ratio of -0.01 and a beta of 2.45. The firm’s 50 day moving average is C$1.74 and its two-hundred day moving average is C$1.80. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38.

Canopy Growth (TSE:WEED) last issued its earnings results on Friday, November 7th. The company reported C($0.01) EPS for the quarter. The firm had revenue of C$66.68 million during the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. As a group, research analysts anticipate that Canopy Growth Corp will post -0.69 EPS for the current fiscal year.

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.