Canopy Growth (TSE:WEED) Sets New 12-Month Low – Here’s Why

Shares of Canopy Growth Corp (TSE:WEED) reached a new 52-week low on Monday . The company traded as low as C$1.58 and last traded at C$1.60, with a volume of 522700 shares. The stock had previously closed at C$1.69.

Analyst Ratings Changes

WEED has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a report on Monday, February 10th. 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 report on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat, Canopy Growth currently has an average rating of “Reduce” and an average price target of C$5.64.

Canopy Growth Price Performance

The stock has a market capitalization of C$259.00 million, a P/E ratio of -0.23, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The business has a fifty day simple moving average of C$2.86 and a 200 day simple moving average of C$4.87. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38.

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.