Canopy Growth (TSE:WEED) Trading Down 3.1% – Time to Sell?

Canopy Growth Corp (TSE:WEED)’s stock price fell 3.1% during mid-day trading on Monday . The stock traded as low as C$1.57 and last traded at C$1.58. 740,845 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,758,631 shares. The stock had previously closed at C$1.63.

Analyst Ratings Changes

Separately, Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a report on Monday, November 10th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of C$1.55.

Canopy Growth Stock Performance

The stock has a 50 day moving average price of C$1.79 and a two-hundred day moving average price of C$1.85. The company has a market cap of C$540.67 million, a P/E ratio of -0.59, a price-to-earnings-growth ratio of -0.01 and a beta of 2.38. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38.

Canopy Growth (TSE:WEED) last issued its quarterly earnings data on Friday, November 7th. The company reported C($0.01) EPS for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. The firm had revenue of C$66.68 million during the quarter. On average, research analysts predict that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal year.

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.