Canopy Growth (WEED) Stock Price Down 9.5%
Canopy Growth Co. (TSE:WEED) was down 9.5% on Friday . The company traded as low as C$27.93 and last traded at C$30.41. Approximately 12,813,874 shares changed hands during trading, an increase of 341% from the average daily volume of 2,905,240 shares. The stock had previously closed at C$27.77.
A number of equities research analysts recently weighed in on WEED shares. Canaccord Genuity lowered Canopy Growth from a “hold” rating to a “sell” rating and boosted their price objective for the stock from C$9.50 to C$11.00 in a research report on Thursday, October 12th. Eight Capital lifted their target price on Canopy Growth from C$12.00 to C$18.00 in a report on Wednesday, November 1st. Finally, Beacon Securities downgraded Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 target price on the stock. in a report on Monday, November 13th.
The company has a market cap of $6,290.00, a price-to-earnings ratio of -253.42 and a beta of 0.94.
About Canopy Growth
Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.
Receive News & Ratings for Canopy Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canopy Growth and related companies with MarketBeat.com's FREE daily email newsletter.