Canopy Growth (TSE:WEED) Trading Down 3.7% - Here's What Happened

Canopy Growth Corp (TSE:WEED - Get Free Report)'s share price traded down 3.7% on Friday . The company traded as low as C$2.36 and last traded at C$2.36. 1,629,687 shares traded hands during trading, a decline of 3% from the average session volume of 1,684,592 shares. The stock had previously closed at C$2.45.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. ATB Capital cut their price target 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 lowered their price objective 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.

Canopy Growth Stock Performance

The stock's 50 day moving average price is C$1.78 and its 200 day moving average price is C$2.86. 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$289.56 million, a P/E ratio of -0.26, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79.

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.