Canopy Growth (TSE:WEED) Stock Price Down 0.6% – Time to Sell?

Canopy Growth Corp (TSE:WEED)’s stock price was down 0.6% during trading on Wednesday . The stock traded as low as C$1.59 and last traded at C$1.60. Approximately 1,323,345 shares traded hands during trading, a decline of 43% from the average daily volume of 2,306,358 shares. The stock had previously closed at C$1.61.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEED. Sanford C. Bernstein reduced their price objective on Canopy Growth from C$5.30 to C$2.50 in a research note on Wednesday, January 14th. Benchmark raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, ATB Cormark Capital Markets reduced their price target on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research report on Thursday, December 11th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of C$1.95.

Canopy Growth Trading Down 0.6%

The firm has a market cap of C$604.58 million, a price-to-earnings ratio of -0.86, a price-to-earnings-growth ratio of -0.01 and a beta of 1.76. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The business has a 50 day moving average price of C$1.64 and a 200-day moving average price of C$1.79.

Canopy Growth (TSE:WEED) last released its quarterly earnings results on Friday, February 6th. The company reported C($0.18) EPS for the quarter. Canopy Growth had a negative return on equity of 108.18% and a negative net margin of 201.27%.The company had revenue of C$74.54 million for the quarter. As a group, research analysts expect 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. 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.