Canopy Growth (TSE:WEED) Shares Down 11.2% – Time to Sell?

by · The Markets Daily

Canopy Growth Corp (TSE:WEED – Get Free Report)’s share price was down 11.2% during mid-day trading on Friday . The company traded as low as C$2.04 and last traded at C$2.06. Approximately 10,589,512 shares traded hands during trading, an increase of 239% from the average daily volume of 3,127,328 shares. The stock had previously closed at C$2.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WEED shares. Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. ATB Capital dropped their price target on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Canopy Growth currently has a consensus rating of “Sell” and an average target price of C$1.45.

View Our Latest Stock Analysis on Canopy Growth

Canopy Growth Trading Down 12.1%

The firm has a market cap of C$698.08 million, a PE ratio of -0.76, a price-to-earnings-growth ratio of -0.01 and a beta of 2.45. The company has a 50-day simple moving average of C$1.77 and a 200 day simple moving average of C$1.81. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38.

Canopy Growth (TSE:WEED – Get Free Report) last posted its earnings results on Friday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$66.68 million during the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. As a group, sell-side analysts forecast that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal year.

Canopy Growth Company Profile

(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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.

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