Canaccord Genuity Group Lowers Canopy Growth (TSE:WEED) Price Target to C$1.50

Canopy Growth (TSE:WEED) had its target price dropped by investment analysts at Canaccord Genuity Group from C$2.50 to C$1.50 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “sell” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential downside of 46.81% from the company’s current price.

Separately, ATB Capital lowered shares of Canopy Growth from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from C$6.00 to C$4.00 in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of C$5.40.

Canopy Growth Price Performance

Shares of Canopy Growth stock traded down C$0.07 during midday trading on Monday, hitting C$2.82. 2,049,962 shares of the company were exchanged, compared to its average volume of 1,871,936. The firm has a 50 day simple moving average of C$3.86 and a 200-day simple moving average of C$5.99. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. The firm has a market cap of C$239.31 million, a P/E ratio of -0.36, a PEG ratio of -0.01 and a beta of 1.79. Canopy Growth has a 52 week low of C$2.71 and a 52 week high of C$20.50.

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.