Canopy Growth (TSE:WEED) PT Lowered to C$3.50

Canopy Growth (TSE:WEED) had its price target cut by Canaccord Genuity Group from C$5.00 to C$3.50 in a report published on Monday morning, BayStreet.CA reports. They currently have a sell rating on the stock.

A number of other equities analysts have also weighed in on WEED. Alliance Global Partners boosted their price objective on shares of Canopy Growth from C$6.00 to C$11.00 in a research report on Tuesday, June 4th. Jefferies Financial Group boosted their price target on Canopy Growth from C$4.90 to C$10.63 and gave the company a hold rating in a report on Tuesday, June 11th. CIBC decreased their price objective on Canopy Growth from C$4.50 to C$4.00 and set an underperform rating on the stock in a report on Friday, May 31st. Finally, ATB Capital set a C$10.00 target price on Canopy Growth and gave the company a sector perform rating in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of C$6.45.

Canopy Growth Trading Up 2.3 %

Shares of WEED stock opened at C$9.60 on Monday. The company has a market capitalization of C$814.66 million, a price-to-earnings ratio of -1.48, a PEG ratio of -0.01 and a beta of 1.83. The company has a current ratio of 1.58, a quick ratio of 2.32 and a debt-to-equity ratio of 133.46. The firm has a 50-day moving average price of C$9.52 and a 200 day moving average price of C$9.35. Canopy Growth has a twelve month low of C$3.74 and a twelve month high of C$26.00.

Insider Transactions at Canopy Growth

In other news, Director Willy Kruh sold 3,738 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of C$9.94, for a total transaction of C$37,155.72. Insiders own 0.31% of the company’s stock.

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.