Canopy Growth (TSE:WEED) Hits New 12-Month Low After Analyst Downgrade

Canopy Growth Corp (TSE:WEEDGet Rating)’s share price hit a new 52-week low during mid-day trading on Tuesday after CIBC lowered their price target on the stock from C$5.00 to C$3.00. CIBC currently has an underperform rating on the stock. Canopy Growth traded as low as C$3.41 and last traded at C$3.45, with a volume of 372662 shares changing hands. The stock had previously closed at C$3.63.

Several other equities research analysts have also issued reports on WEED. Cowen lowered their price target on shares of Canopy Growth from C$12.50 to C$6.50 in a report on Monday, May 30th. Stifel Nicolaus reduced their target price on shares of Canopy Growth from C$7.50 to C$6.00 in a research note on Monday, May 2nd. Jefferies Financial Group reduced their target price on shares of Canopy Growth from C$8.80 to C$5.50 in a research note on Monday, June 13th. Cowen reduced their target price on shares of Canopy Growth to C$6.50 and set a “buy” rating on the stock in a research note on Monday, May 30th. Finally, Alliance Global Partners downgraded shares of Canopy Growth to a “hold” rating and reduced their target price for the company from C$11.00 to C$8.00 in a research note on Friday, May 20th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to, the stock has a consensus rating of “Hold” and an average target price of C$8.72.


Slaving away for 70 hrs a week as a lawyer in Chicago, I was miserable.

I ran into guys who worked the trading floor at the local exchange. I began trading the same way they did. I started out with $50K (much more than I needed, actually).

I grew my $50K into $5.3M

The company has a debt-to-equity ratio of 45.18, a quick ratio of 6.94 and a current ratio of 8.16. The company has a market capitalization of C$1.38 billion and a price-to-earnings ratio of -4.70. The business’s 50-day simple moving average is C$5.94 and its 200-day simple moving average is C$8.34.

Canopy Growth Company Profile (TSE:WEED)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to

Should you invest $1,000 in Canopy Growth right now?

Before you consider Canopy Growth, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Canopy Growth wasn’t on the list.

While Canopy Growth currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

Source link

Leave a Reply

Your email address will not be published.