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

Canopy Growth Corp (TSE:WEED - Get Free Report)'s share price dropped 8.2% during trading on Friday . The stock traded as low as C$2.46 and last traded at C$2.47. Approximately 1,199,201 shares traded hands during 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

A number of brokerages have recently issued reports on WEED. Canaccord Genuity Group cut 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. ATB Capital reduced their price objective on shares of Canopy Growth from C$4.00 to C$3.20 and set an "underperform" rating on the stock in a research report 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, Canopy Growth currently has an average rating of "Reduce" and an average target price of C$5.64.

Canopy Growth Stock Down 8.2%

The stock has a market cap of C$397.34 million, a PE ratio of -0.36, a P/E/G ratio of -0.01 and a beta of 1.79. The business has a 50 day moving average price of C$1.70 and a 200 day moving average price of C$3.04. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.