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

Shares of Canopy Growth Corp (TSE:WEED) traded down 2.8% on Friday . The stock traded as low as C$1.73 and last traded at C$1.73. 3,618,285 shares traded 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 equities analysts recently weighed in on WEED shares. Benchmark raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. ATB Capital lowered their target price 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 research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Canopy Growth has an average rating of “Sell” and an average price target of C$1.45.

Canopy Growth Trading 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 company has a 50-day simple moving average of C$1.72 and a 200 day simple moving average of C$1.79. The company has a market capitalization of C$592.00 million, a P/E ratio of -0.65, a P/E/G ratio of -0.01 and a beta of 2.12.

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