Canopy Growth (TSE:WEED) Trading Down 3.1% – Here’s Why

Canopy Growth Corp (TSE:WEED) fell 3.1% on Monday . The company traded as low as C$1.57 and last traded at C$1.58. 740,845 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,758,631 shares. The stock had previously closed at C$1.63.

Wall Street Analysts Forecast Growth

Separately, Benchmark upgraded Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Canopy Growth has an average rating of “Sell” and an average price target of C$1.55.

Canopy Growth Price Performance

The firm has a market cap of C$540.67 million, a P/E ratio of -0.59, a PEG ratio of -0.01 and a beta of 2.38. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The company’s 50-day moving average is C$1.79 and its two-hundred day moving average is C$1.85.

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

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.