Canopy Growth (TSE:WEED) Shares Down 18.2%

Canopy Growth Corp (TSE:WEED - Get Free Report)'s stock price dropped 18.2% during trading on Wednesday . The stock traded as low as C$15.63 and last traded at C$16.73. Approximately 2,499,465 shares changed hands during trading, a decline of 8% from the average daily volume of 2,725,777 shares. The stock had previously closed at C$20.45.

Analyst Ratings Changes

A number of research firms have weighed in on WEED. Jefferies Financial Group decreased their price target on Canopy Growth from C$7.28 to C$4.90 and set a "hold" rating for the company in a report on Tuesday, February 27th. Sanford C. Bernstein boosted their target price on shares of Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th. Finally, Bank of America lowered their price target on shares of Canopy Growth from C$7.00 to C$4.00 in a report on Wednesday, February 14th.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 127.28, a quick ratio of 2.32 and a current ratio of 1.79. The company has a 50 day moving average price of C$8.57 and a 200 day moving average price of C$5.21. The company has a market capitalization of C$1.44 billion, a PE ratio of -0.71, a PEG ratio of -0.01 and a beta of 1.63.

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.