Canopy Growth (TSE:WEED) Price Target Lowered to C$1.50 at Canaccord Genuity Group

Canopy Growth (TSE:WEED) had its price target lowered by stock analysts at Canaccord Genuity Group from C$2.50 to C$1.50 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “sell” rating on the stock. Canaccord Genuity Group’s price objective points to a potential downside of 42.31% from the company’s previous close.

Separately, ATB Capital downgraded Canopy Growth from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from C$6.00 to C$4.00 in a report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of C$5.40.

Canopy Growth Trading Down 8.1 %

WEED opened at C$2.60 on Monday. The business has a 50 day simple moving average of C$3.81 and a two-hundred day simple moving average of C$5.96. The firm has a market capitalization of C$220.64 million, a price-to-earnings ratio of -0.33, a PEG ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. Canopy Growth has a one year low of C$2.57 and a one year high of C$20.50.

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.