Canopy Growth (TSE:WEED) Shares Up 2.8% - Time to Buy?

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WEED shares. ATB Capital cut their price target on shares of Canopy Growth from C$4.00 to C$3.20 and set an "underperform" rating on the stock 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 on the stock in a research note on Monday, February 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of C$5.64.

Canopy Growth Trading Up 8.1%

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 company has a market capitalization of C$431.13 million, a P/E ratio of -0.39, a PEG ratio of -0.01 and a beta of 1.79. The company's fifty day simple moving average is C$1.68 and its 200-day simple moving average is C$3.07.

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.

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