ATB Capital Cuts Canopy Growth (TSE:WEED) Price Target to C$3.20

Canopy Growth (TSE:WEED) had its price target trimmed by ATB Capital from C$4.00 to C$3.20 in a research note published on Monday morning,BayStreet.CA reports. The brokerage currently has an underperform rating on the stock.

Separately, Canaccord Genuity Group lowered their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating for the company in a research note on Monday. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to MarketBeat, Canopy Growth presently has a consensus rating of “Reduce” and a consensus target price of C$5.40.

Canopy Growth Price Performance

WEED stock opened at C$2.56 on Monday. Canopy Growth has a 12-month low of C$2.50 and a 12-month high of C$20.50. The company has a quick ratio of 2.32, a current ratio of 2.15 and a debt-to-equity ratio of 117.00. The company’s fifty day simple moving average is C$3.77 and its 200 day simple moving average is C$5.90. The firm has a market cap of C$217.24 million, a price-to-earnings ratio of -0.32, a PEG ratio of -0.01 and a beta of 1.79.

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.