Canopy Growth (TSE:WEED) Stock Price Up 23.1% – Should You Buy?

Shares of Canopy Growth Corp (TSE:WEED) rose 23.1% on Wednesday . The company traded as high as C$3.64 and last traded at C$3.62. Approximately 1,464,222 shares traded hands during trading, an increase of 17% from the average daily volume of 1,255,816 shares. The stock had previously closed at C$2.94.

Wall Street Analysts Forecast Growth

Separately, ATB Capital cut Canopy Growth from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from C$6.00 to C$4.00 in a research note on Tuesday, December 17th.

Canopy Growth Stock Performance

The stock has a market cap of C$306.34 million, a PE ratio of -0.46, a P/E/G ratio of -0.01 and a beta of 1.79. The company has a quick ratio of 2.32, a current ratio of 2.15 and a debt-to-equity ratio of 117.00. The company has a fifty day moving average price of C$3.98 and a 200 day moving average price of C$6.15.

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.