Canopy Growth (TSE:WEED) Trading 20.5% Higher

Canopy Growth Corp (TSE:WEED)’s stock price traded up 20.5% during mid-day trading on Thursday . The company traded as high as C$10.95 and last traded at C$10.74. 2,265,545 shares traded hands during trading, a decline of 11% from the average session volume of 2,550,838 shares. The stock had previously closed at C$8.91.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group decreased their target price 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. Bank of America reduced their price target on shares of Canopy Growth from C$7.00 to C$4.00 in a research report on Wednesday, February 14th. Finally, Sanford C. Bernstein increased their price target on shares of Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th.

Canopy Growth Stock Performance

The firm has a market cap of C$994.01 million, a P/E ratio of -0.51, a P/E/G ratio of -0.01 and a beta of 1.63. 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 company’s 50 day moving average is C$7.43 and its 200 day moving average is C$4.57.

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.