Canopy Growth (TSE:WEED) Trading 10.2% Higher - Here's Why

Canopy Growth Corp (TSE:WEED - Get Free Report)'s stock price traded up 10.2% during trading on Friday . The company traded as high as C$2.08 and last traded at C$2.05. 1,462,766 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 1,728,080 shares. The stock had previously closed at C$1.86.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Canaccord Genuity Group decreased their target price on Canopy Growth from C$2.50 to C$1.50 and set a "sell" rating on the stock in a research report on Monday, February 10th. ATB Capital decreased their target price on Canopy Growth from C$3.20 to C$1.60 and set an "underperform" rating on the stock in a research report on Tuesday, June 3rd.

Canopy Growth Stock Down 4.8%

The company has a 50 day simple moving average of C$1.83 and a two-hundred day simple moving average of C$2.72. 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 company has a market capitalization of C$353.91 million, a P/E ratio of -0.32, a PEG 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.