Canopy Growth (TSE:WEED) Stock Price Up 16.6%

Canopy Growth Corp (TSE:WEED) shares shot up 16.6% during mid-day trading on Friday . The company traded as high as C$13.97 and last traded at C$13.83. 1,392,670 shares were traded during trading, a decline of 46% from the average session volume of 2,574,283 shares. The stock had previously closed at C$11.86.

Analysts Set New Price Targets

WEED has been the topic of several research reports. Sanford C. Bernstein upped their target price on Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th. Bank of America dropped their price objective on Canopy Growth from C$7.00 to C$4.00 in a report on Wednesday, February 14th. Finally, Jefferies Financial Group cut their price objective on shares of Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating on the stock in a research report on Tuesday, February 27th.

Canopy Growth Price Performance

The stock has a 50 day moving average of C$8.13 and a two-hundred day moving average of C$4.97. The company has a debt-to-equity ratio of 127.28, a quick ratio of 2.32 and a current ratio of 1.79. The firm has a market capitalization of C$1.11 billion, a P/E ratio of -0.57, a P/E/G 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.