Canopy Growth (TSE:WEED) Sets New 52-Week High at $13.70

Canopy Growth Corp (TSE:WEED)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$13.70 and last traded at C$13.10, with a volume of 6707969 shares changing hands. The stock had previously closed at C$12.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WEED. Jefferies Financial Group dropped their target price on Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating on the stock in a research report on Tuesday, February 27th. Bank of America reduced their target price on Canopy Growth from C$7.00 to C$4.00 in a research note on Wednesday, February 14th. Finally, Sanford C. Bernstein raised their price target on shares of Canopy Growth from C$1.49 to C$6.70 in a research report on Tuesday, January 30th.

Canopy Growth Stock Performance

The company has a fifty day moving average of C$5.59 and a two-hundred day moving average of C$3.38. The stock has a market capitalization of C$1.06 billion, a P/E ratio of -0.55, a price-to-earnings-growth ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 127.28, a current ratio of 1.79 and a quick ratio of 2.32.

Canopy Growth Company Profile

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.