Canopy Growth (TSE:WEED) Stock Price Down 2.6%

Canopy Growth Corp (TSE:WEED)’s share price dropped 2.6% during mid-day trading on Tuesday . The company traded as low as C$9.25 and last traded at C$9.29. Approximately 50,214 shares were traded during trading, a decline of 98% from the average daily volume of 2,591,593 shares. The stock had previously closed at C$9.54.

Wall Street Analyst Weigh In

WEED has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Canopy Growth from C$4.90 to C$10.63 and gave the company a “hold” rating in a research note on Tuesday, June 11th. Alliance Global Partners lifted their price target on shares of Canopy Growth from C$6.00 to C$11.00 in a research note on Tuesday, June 4th. CIBC dropped their price objective on shares of Canopy Growth from C$4.50 to C$4.00 and set an “underperform” rating on the stock in a report on Friday, May 31st. Finally, ATB Capital set a C$10.00 target price on Canopy Growth and gave the company a “sector perform” rating in a research note on Tuesday, June 18th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$6.88.

Canopy Growth Stock Up 2.2 %

The company has a market cap of C$682.96 million, a price-to-earnings ratio of -0.43, a price-to-earnings-growth ratio of -0.01 and a beta of 1.85. The company has a debt-to-equity ratio of 127.28, a quick ratio of 2.32 and a current ratio of 1.79. The stock’s fifty day moving average is C$11.89 and its two-hundred day moving average is C$8.32.

Insiders Place Their Bets

In related news, Director Willy Kruh sold 3,738 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of C$9.94, for a total value of C$37,155.72. Corporate insiders own 0.27% of the company’s stock.

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.