ATB Capital Cuts Canopy Growth (TSE:WEED) Price Target to C$3.20

Canopy Growth (TSE:WEED) had its price objective cut by investment analysts at ATB Capital from C$4.00 to C$3.20 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “underperform” rating on the stock. ATB Capital’s price target would indicate a potential upside of 13.48% from the stock’s current price.

Separately, Canaccord Genuity Group reduced their target price on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research report on Monday. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of C$5.40.

Canopy Growth Price Performance

Shares of WEED traded down C$0.07 during trading hours on Monday, hitting C$2.82. 2,049,962 shares of the stock were exchanged, compared to its average volume of 1,871,936. The stock’s 50-day moving average price is C$3.86 and its two-hundred day moving average price is C$5.99. Canopy Growth has a 12-month low of C$2.71 and a 12-month high of C$20.50. 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 company has a market cap of C$239.31 million, a price-to-earnings ratio of -0.36, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

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.