Canopy Growth Corp (TSE:WEED – Get Free Report)’s share price fell 3.3% during trading on Tuesday . The company traded as low as C$6.36 and last traded at C$6.38. 307,576 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,194,263 shares. The stock had previously closed at C$6.60.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on WEED. ATB Capital set a C$10.00 price target on shares of Canopy Growth and gave the company a “sector perform” rating in a research report on Tuesday, June 18th. Jefferies Financial Group boosted their target price on shares of Canopy Growth from C$4.90 to C$10.63 and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Alliance Global Partners raised their price target on shares of Canopy Growth from C$6.00 to C$11.00 in a research report on Tuesday, June 4th. Canaccord Genuity Group decreased their price objective on Canopy Growth from C$5.00 to C$3.50 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, CIBC dropped their target price 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. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$6.45.
Get Our Latest Stock Report on WEED
Canopy Growth Price Performance
Insider Activity at Canopy Growth
In other news, Senior Officer Christelle Gedeon sold 16,788 shares of Canopy Growth stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$8.35, for a total value of C$140,253.67. In related news, Senior Officer Christelle Gedeon sold 16,788 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$8.35, for a total transaction of C$140,253.67. Also, Director David Eric Klein sold 40,135 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of C$8.35, for a total transaction of C$335,303.84. 0.27% of the stock is owned by company insiders.
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.
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