Canopy Growth (TSE:WEED) Shares Down 0.8% – Here’s Why

Canopy Growth Corp (TSE:WEED) was down 0.8% during trading on Friday . The stock traded as low as C$1.27 and last traded at C$1.28. 304,575 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,644,805 shares. The stock had previously closed at C$1.29.

Analysts Set New Price Targets

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

Canopy Growth Price Performance

The company has a market capitalization of C$575.10 million, a price-to-earnings ratio of -1.91, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 40.27, a current ratio of 3.04 and a quick ratio of 2.32. The business has a fifty day moving average price of C$1.35 and a 200 day moving average price of C$1.42.

Canopy Growth (TSE:WEED) last posted its quarterly earnings data on Friday, August 7th. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$81.17 million during the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. On average, research analysts expect that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal 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.