Canopy Growth (TSE:WEED) Reaches New 1-Year Low – Time to Sell?

Canopy Growth Corp (TSE:WEED) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as C$2.51 and last traded at C$2.48, with a volume of 736176 shares traded. The stock had previously closed at C$2.68.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WEED shares. ATB Capital dropped their price target on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price target on Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research report 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 MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Trading Down 3.8 %

The company has a 50 day moving average price of C$3.48 and a 200 day moving average price of C$5.58. The firm has a market cap of C$365.17 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39.

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.