Canopy Growth (TSE:WEED) Trading Down 3.8%

Canopy Growth Corp (TSE:WEED) shares fell 3.8% during mid-day trading on Tuesday . The company traded as low as C$6.26 and last traded at C$6.26. 168,842 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,100,711 shares. The stock had previously closed at C$6.51.

Wall Street Analysts Forecast Growth

WEED has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Canopy Growth from C$4.90 to C$10.63 and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Canaccord Genuity Group decreased their price target on shares of Canopy Growth from C$5.00 to C$3.50 and set a “sell” rating for the company in a research note on Monday, August 12th. Finally, ATB Capital set a C$10.00 price target on Canopy Growth and gave the company a “sector perform” rating in a research report on Tuesday, June 18th.

Canopy Growth Stock Performance

The company has a current ratio of 2.15, a quick ratio of 2.32 and a debt-to-equity ratio of 117.00. The firm has a market capitalization of C$507.46 million, a PE ratio of -0.76, a P/E/G ratio of -0.01 and a beta of 1.81. The business has a 50 day moving average price of C$7.78 and a 200-day moving average price of C$9.86.

Insiders Place Their Bets

In related news, Senior Officer Christelle Gedeon sold 16,788 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$8.35, for a total value of C$140,253.67. In other news, Director David Eric Klein sold 40,135 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$8.35, for a total transaction of C$335,303.84. Also, Senior Officer Christelle Gedeon sold 16,788 shares of Canopy Growth stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$8.35, for a total value of C$140,253.67. 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.