Canopy Growth (TSE:WEED) Downgraded by ATB Capital to Underperform

Canopy Growth (TSE:WEED) was downgraded by investment analysts at ATB Capital from a “sector perform” rating to an “underperform” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$4.00 price objective on the stock, down from their previous price objective of C$6.00. ATB Capital’s target price suggests a potential downside of 1.72% from the company’s current price.

Canopy Growth Price Performance

Shares of WEED opened at C$4.07 on Tuesday. The business has a 50-day moving average of C$5.71 and a 200-day moving average of C$7.59. 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 company has a market capitalization of C$345.38 million, a price-to-earnings ratio of -0.51, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. Canopy Growth has a 1 year low of C$3.74 and a 1 year high of C$20.50.

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.