Canopy Growth (TSE:WEED) Trading 20.5% Higher

Canopy Growth Corp (TSE:WEED)’s stock price was up 20.5% during trading on Thursday . The stock traded as high as C$10.95 and last traded at C$10.74. Approximately 2,265,545 shares were traded during trading, a decline of 11% from the average daily volume of 2,550,838 shares. The stock had previously closed at C$8.91.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WEED shares. Jefferies Financial Group reduced their price objective on shares of Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Bank of America reduced their price objective on shares of Canopy Growth from C$7.00 to C$4.00 in a research note on Wednesday, February 14th. Finally, Sanford C. Bernstein boosted their price objective on shares of Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th.

Canopy Growth Trading Up 1.1 %

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 firm has a market cap of C$994.01 million, a PE ratio of -0.51, a PEG ratio of -0.01 and a beta of 1.63. The stock’s 50 day simple moving average is C$7.43 and its 200 day simple moving average is C$4.57.

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.