Canopy Growth (TSE:WEED) Shares Down 6.4%

Canopy Growth Corp (TSE:WEED)’s stock price dropped 6.4% during mid-day trading on Monday . The stock traded as low as C$9.92 and last traded at C$10.02. Approximately 473,831 shares traded hands during trading, a decline of 81% from the average daily volume of 2,536,590 shares. The stock had previously closed at C$10.70.

Wall Street Analyst Weigh In

WEED has been the subject of several research analyst reports. Jefferies Financial Group dropped their price objective on Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Sanford C. Bernstein lifted their price objective on Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th. Finally, Bank of America dropped their price objective on Canopy Growth from C$7.00 to C$4.00 in a research note on Wednesday, February 14th.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 127.28, a current ratio of 1.79 and a quick ratio of 2.32. The company has a 50 day simple moving average of C$7.16 and a 200-day simple moving average of C$4.42. The stock has a market cap of C$841.86 million, a P/E ratio of -0.43, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63.

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.