Canopy Growth (TSE:WEED) Shares Up 23.1% – Should You Buy?

Shares of Canopy Growth Corp (TSE:WEED) traded up 23.1% on Wednesday . The stock traded as high as C$3.64 and last traded at C$3.62. 1,464,222 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 1,255,816 shares. The stock had previously closed at C$2.94.

Analyst Upgrades and Downgrades

Separately, ATB Capital lowered shares of Canopy Growth from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from C$6.00 to C$4.00 in a research report on Tuesday, December 17th.

Canopy Growth Price Performance

The stock has a market cap of C$273.25 million, a price-to-earnings ratio of -0.41, a PEG ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The company’s 50 day moving average is C$3.92 and its 200 day moving average is C$6.06.

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.