Canopy Growth (TSE:WEED) Trading Down 6.3% - Here's Why

Canopy Growth Corp (TSE:WEED - Get Free Report)'s share price fell 6.3% during mid-day trading on Tuesday . The stock traded as low as C$1.48 and last traded at C$1.50. 1,915,596 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 1,805,645 shares. The stock had previously closed at C$1.60.

Wall Street Analysts Forecast Growth

Separately, ATB Capital decreased their price objective on shares of Canopy Growth from C$3.20 to C$1.60 and set an "underperform" rating for the company in a report on Tuesday, June 3rd.

Canopy Growth Trading Up 0.7%

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 firm has a market cap of C$246.13 million, a PE ratio of -0.22, a P/E/G ratio of -0.01 and a beta of 1.79. The company's 50-day moving average is C$1.93 and its 200 day moving average is C$2.17.

Insiders Place Their Bets

In other Canopy Growth news, Director David Angelo Lazzarato sold 15,701 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of C$1.68, for a total value of C$26,307.34. Corporate insiders own 0.21% of the company's stock.

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.