Canopy Growth (TSE:WEED) Hits New 1-Year Low – What’s Next?

Canopy Growth Corp (TSE:WEED)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as C$1.48 and last traded at C$1.49, with a volume of 702851 shares. The stock had previously closed at C$1.58.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. ATB Capital lowered their price objective on shares of Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a research report on Monday, February 10th. Canaccord Genuity Group lowered their price target on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Price Performance

The firm’s 50 day simple moving average is C$2.35 and its two-hundred day simple moving average is C$4.36. The firm has a market capitalization of C$228.43 million, a P/E ratio of -0.21, a P/E/G ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32.

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.