Canopy Growth (WEED) Shares Down 3.9%

Canopy Growth Co. (TSE:WEED)’s share price fell 3.9% during trading on Thursday . The company traded as low as C$29.07 and last traded at C$33.63. 11,300,000 shares traded hands during trading, an increase of 99% from the average session volume of 5,690,000 shares. The stock had previously closed at C$32.37.

A number of equities analysts have issued reports on WEED shares. Beacon Securities cut Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 target price for the company. in a report on Monday, November 13th. Canaccord Genuity upped their target price on Canopy Growth from C$14.00 to C$17.00 and gave the stock a “hold” rating in a report on Wednesday, November 15th. Finally, Eight Capital upped their target price on Canopy Growth from C$18.00 to C$22.00 in a report on Monday, November 27th.

The company has a market capitalization of $6,490.00, a price-to-earnings ratio of -283.33 and a beta of 1.31.

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About Canopy Growth

Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.

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