Canopy Growth (TSE:WEED) Trading Down 8.2% - Should You Sell?

Canopy Growth Corp (TSE:WEED - Get Free Report) shares dropped 8.2% during trading on Friday . The company traded as low as C$2.46 and last traded at C$2.47. Approximately 1,199,201 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 1,655,880 shares. The stock had previously closed at C$2.69.

Wall Street Analyst Weigh In

Several equities analysts have commented on WEED shares. ATB Capital dropped 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 research note 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 report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat.com, Canopy Growth has a consensus rating of "Reduce" and an average price target of C$5.64.

Canopy Growth Price Performance

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$394.13 million, a PE ratio of -0.36, a P/E/G ratio of -0.01 and a beta of 1.79. The company's 50-day simple moving average is C$1.75 and its 200-day simple moving average is C$2.93.

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.