ATB Capital Issues Pessimistic Forecast for Canopy Growth (TSE:WEED) Stock Price

Canopy Growth (TSE:WEED) had its price objective trimmed by ATB Capital from C$4.00 to C$3.20 in a research note published on Monday morning,BayStreet.CA reports. The brokerage currently has an underperform rating on the stock.

Separately, Canaccord Genuity Group dropped their price objective on shares of Canopy Growth from C$2.50 to C$1.50 and set a “sell” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of C$5.40.

Canopy Growth Stock Down 2.1 %

WEED stock opened at C$2.83 on Monday. The firm’s fifty day simple moving average is C$3.86 and its 200-day simple moving average is C$5.99. The company has a market capitalization of C$240.15 million, a P/E ratio of -0.36, a price-to-earnings-growth ratio of -0.01 and a beta of 1.79. The company has a debt-to-equity ratio of 117.00, a current ratio of 2.15 and a quick ratio of 2.32. Canopy Growth has a 12 month low of C$2.71 and a 12 month 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.