Canopy Growth (TSE:WEED) Stock Price Down 0.6% – Time to Sell?

Shares of Canopy Growth Corp (TSE:WEED) fell 0.6% during trading on Wednesday . The company traded as low as C$1.59 and last traded at C$1.60. 1,323,345 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 2,306,358 shares. The stock had previously closed at C$1.61.

Wall Street Analyst Weigh In

WEED has been the subject of several recent analyst reports. Benchmark upgraded Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. ATB Cormark Capital Markets cut their price target on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research note on Thursday, December 11th. Finally, Sanford C. Bernstein lowered their price objective on Canopy Growth from C$5.30 to C$2.50 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Canopy Growth currently has a consensus rating of “Reduce” and a consensus target price of C$1.95.

Canopy Growth Stock Down 0.6%

The firm has a market cap of C$604.58 million, a P/E ratio of -0.86, a PEG ratio of -0.01 and a beta of 1.76. The firm’s 50-day moving average price is C$1.64 and its 200 day moving average price is C$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 (TSE:WEED) last announced its quarterly earnings data on Friday, February 6th. The company reported C($0.18) earnings per share for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. The firm had revenue of C$74.54 million during the quarter. On average, equities research analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal 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.