Canopy Growth Corp (TSE:WEED - Get Free Report)'s share price rose 14% during trading on Monday . The company traded as high as C$2.11 and last traded at C$1.96. Approximately 6,291,685 shares were traded during mid-day trading, an increase of 232% from the average daily volume of 1,893,488 shares. The stock had previously closed at C$1.72.
Wall Street Analysts Forecast Growth
Separately, ATB Capital cut their price target on Canopy Growth from C$3.20 to C$1.60 and set an "underperform" rating on the stock in a research note on Tuesday, June 3rd.
Check Out Our Latest Stock Report on WEED
Canopy Growth Trading Up 26.7%
The company has a market capitalization of C$350.69 million, a P/E ratio of -0.32, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The firm has a fifty day moving average price of C$1.69 and a 200-day moving average price of C$1.90.
Insiders Place Their Bets
In related news, Director David Angelo Lazzarato sold 15,701 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of C$1.68, for a total transaction of C$26,307.34. Company insiders own 0.21% of the company's stock.
About Canopy Growth
(
Get Free Report)
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.
Further Reading
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