ATB Capital Has Lowered Expectations for Canopy Growth (TSE:WEED) Stock Price

Canopy Growth (TSE:WEED) had its target price lowered by analysts at ATB Capital from C$4.00 to C$3.20 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an “underperform” rating on the stock. ATB Capital’s price target suggests a potential upside of 13.48% from the stock’s current price.

Separately, Canaccord Genuity Group reduced their price objective on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research note on Monday. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of C$5.40.

Canopy Growth Stock Performance

Shares of WEED traded down C$0.07 during trading hours on Monday, reaching C$2.82. 2,049,962 shares of the company traded hands, compared to its average volume of 1,871,936. The business has a fifty day moving average price of C$3.86 and a 200-day moving average price of C$5.99. Canopy Growth has a 12-month low of C$2.71 and a 12-month high of C$20.50. The company has a quick ratio of 2.32, a current ratio of 2.15 and a debt-to-equity ratio of 117.00. The stock has a market capitalization of C$239.31 million, a P/E ratio of -0.36, 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.