Canopy Growth (TSE:WEED) Stock Price Down 11.2% – Time to Sell?

Canopy Growth Corp (TSE:WEED) dropped 11.2% on Friday . The company traded as low as C$2.04 and last traded at C$2.06. Approximately 10,589,512 shares were traded during trading, an increase of 239% from the average daily volume of 3,127,328 shares. The stock had previously closed at C$2.32.

Wall Street Analysts Forecast Growth

WEED has been the topic of a number of recent analyst reports. ATB Capital decreased their target price on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research report on Thursday, December 11th. Benchmark upgraded shares of Canopy Growth from a “sell” rating to a “hold” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Sell” and an average price target of C$1.45.

Canopy Growth Stock Down 12.1%

The company has a market capitalization of C$698.08 million, a PE ratio of -0.76, a PEG ratio of -0.01 and a beta of 2.45. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38. The business has a fifty day moving average of C$1.77 and a 200 day moving average of C$1.81.

Canopy Growth (TSE:WEED) last issued its quarterly earnings results on Friday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter. Canopy Growth had a negative return on equity of 108.18% and a negative net margin of 201.27%.The business had revenue of C$66.68 million for the quarter. Equities research analysts anticipate that Canopy Growth Corp will post -0.69 EPS for the current year.

Canopy Growth Company Profile

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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.