Canopy Growth (TSE:WEED) Trading Down 4.5% – Here’s What Happened

Canopy Growth Corp (TSE:WEED) shares dropped 4.5% on Tuesday . The company traded as low as C$1.26 and last traded at C$1.26. Approximately 775,533 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,828,187 shares. The stock had previously closed at C$1.32.

Analyst Ratings Changes

Separately, Alliance Global Partners dropped their target price on shares of Canopy Growth from C$1.80 to C$1.60 in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$1.88.

Canopy Growth Stock Down 4.5%

The stock has a 50 day moving average price of C$1.39 and a 200-day moving average price of C$1.47. The stock has a market capitalization of C$531.92 million, a P/E ratio of -1.43, a PEG ratio of -0.01 and a beta of 1.45. The company has a debt-to-equity ratio of 39.95, a current ratio of 3.34 and a quick ratio of 2.32.

Canopy Growth (TSE:WEED) last released its earnings results on Monday, June 15th. The company reported C($0.40) earnings per share for the quarter. The company had revenue of C$71.25 million during the quarter. Canopy Growth had a negative net margin of 84.76% and a negative return on equity of 35.48%. 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.