Canopy Growth (TSE:WEED) Reaches New 52-Week Low – What’s Next?

Canopy Growth Corp (TSE:WEED)’s share price reached a new 52-week low during trading on Monday . The company traded as low as C$1.58 and last traded at C$1.60, with a volume of 522700 shares. The stock had previously closed at C$1.69.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WEED. ATB Capital decreased their target price on shares of 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 reduced their price objective on shares of 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 equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of C$5.64.

Canopy Growth Price Performance

The stock has a market capitalization of C$259.00 million, a P/E ratio of -0.23, a PEG 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. The business has a fifty day simple moving average of C$2.86 and a 200-day simple moving average of C$4.87.

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.