Canopy Growth (TSE:WEED) Reaches New 12-Month Low – Time to Sell?

Canopy Growth Corp (TSE:WEED) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$1.81 and last traded at C$1.82, with a volume of 1131063 shares changing hands. The stock had previously closed at C$2.03.

Analysts Set New Price Targets

A number of analysts have recently commented on WEED shares. ATB Capital cut their price target on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating on the stock in a report on Monday, February 10th. Canaccord Genuity Group cut their target price on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Stock Performance

The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38. The stock’s 50 day moving average price is C$3.19 and its 200 day moving average price is C$5.21. The company has a market capitalization of C$286.34 million, a price-to-earnings ratio of -0.26, a P/E/G ratio of -0.01 and a beta of 1.79.

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.