Canopy Growth (TSE:WEED) Shares Down 4.5% – Should You Sell?

Canopy Growth Corp (TSE:WEED) shares traded down 4.5% on Tuesday . The stock traded as low as C$1.26 and last traded at C$1.26. 775,533 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,828,187 shares. The stock had previously closed at C$1.32.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners dropped their price objective on shares of Canopy Growth from C$1.80 to C$1.60 in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$1.88.

Canopy Growth Stock Up 3.2%

The stock has a market capitalization of C$540.36 million, a P/E ratio of -1.45, a price-to-earnings-growth ratio of -0.01 and a beta of 1.45. The company has a debt-to-equity ratio of 39.95, a current ratio of 3.34 and a quick ratio of 2.32. The stock has a fifty day moving average price of C$1.38 and a 200 day moving average price of C$1.47.

Canopy Growth (TSE:WEED) last issued its quarterly earnings data on Monday, June 15th. The company reported C($0.40) earnings per share (EPS) for the quarter. The company had revenue of C$71.25 million for the quarter. Canopy Growth had a negative return on equity of 35.48% and a negative net margin of 84.76%. On average, research analysts forecast that Canopy Growth Corp will post -0.69 earnings per share for the current year.

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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.