Canopy Growth (TSE:WEED) Trading Up 2.8% - Here's What Happened

Canopy Growth Corp (TSE:WEED - Get Free Report) traded up 2.8% during trading on Thursday . The company traded as high as C$2.62 and last traded at C$2.55. 497,471 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,625,473 shares. The stock had previously closed at C$2.48.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEED. ATB Capital cut their price objective on shares of Canopy Growth from C$4.00 to C$3.20 and set an "underperform" rating for the company in a report on Monday, February 10th. Canaccord Genuity Group dropped their target price on shares of 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 research analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of C$5.64.

Canopy Growth Trading Down 5.9%

The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The stock's 50 day moving average is C$1.73 and its 200-day moving average is C$2.93. The company has a market cap of C$384.47 million, a PE ratio of -0.35, 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.