Canopy Growth (TSE:WEED) Shares Down 2.8% – Here’s What Happened

Canopy Growth Corp (TSE:WEED)’s share price fell 2.8% during mid-day trading on Friday . The stock traded as low as C$1.73 and last traded at C$1.73. 3,618,285 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 3,704,951 shares. The stock had previously closed at C$1.78.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WEED. Benchmark upgraded Canopy Growth from a “sell” rating to a “hold” rating in a report on Monday, November 10th. ATB Capital decreased 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 analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Canopy Growth presently has a consensus rating of “Sell” and a consensus target price of C$1.45.

Canopy Growth Stock Down 2.8%

The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The stock has a market cap of C$592.00 million, a price-to-earnings ratio of -0.65, a price-to-earnings-growth ratio of -0.01 and a beta of 2.12. The business’s 50 day moving average is C$1.72 and its 200 day moving average is C$1.79.

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

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. 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.