Canopy Growth (TSE:WEED) Sets New 52-Week Low – Time to Sell?

Canopy Growth Corp (TSE:WEED)’s stock price hit a new 52-week low on Monday . The company traded as low as C$1.58 and last traded at C$1.60, with a volume of 522700 shares. The stock had previously closed at C$1.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WEED shares. ATB Capital reduced their price objective on Canopy Growth from C$4.00 to C$3.20 and set an “underperform” rating for the company in a research note on Monday, February 10th. Canaccord Genuity Group lowered their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of C$5.64.

Canopy Growth Price Performance

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 market capitalization of C$259.00 million, a PE ratio of -0.23, a P/E/G ratio of -0.01 and a beta of 1.79. The stock has a 50 day moving average price of C$2.96 and a two-hundred day moving average price of C$4.94.

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.