Canaccord Genuity Group Cuts Canopy Growth (TSE:WEED) Price Target to C$3.50

Canopy Growth (TSE:WEED) had its target price decreased by Canaccord Genuity Group from C$5.00 to C$3.50 in a report issued on Monday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a sell rating on the stock.

WEED has been the topic of several other research reports. Jefferies Financial Group raised their target price on shares of Canopy Growth from C$4.90 to C$10.63 and gave the company a hold rating in a research note on Tuesday, June 11th. Alliance Global Partners lifted their target price on shares of Canopy Growth from C$6.00 to C$11.00 in a report on Tuesday, June 4th. CIBC cut their price target on Canopy Growth from C$4.50 to C$4.00 and set an underperform rating on the stock in a research note on Friday, May 31st. Finally, ATB Capital set a C$10.00 price target on Canopy Growth and gave the stock a sector perform rating in a research report on Tuesday, June 18th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Canopy Growth has a consensus rating of Hold and a consensus target price of C$6.45.

Canopy Growth Price Performance

Shares of WEED stock opened at C$9.38 on Monday. Canopy Growth has a 1 year low of C$3.74 and a 1 year high of C$26.00. The company has a current ratio of 1.58, a quick ratio of 2.32 and a debt-to-equity ratio of 133.46. The firm’s 50 day moving average is C$9.53 and its 200-day moving average is C$9.34. The firm has a market capitalization of C$795.99 million, a price-to-earnings ratio of -1.45, a PEG ratio of -0.01 and a beta of 1.83.

Insider Transactions at Canopy Growth

In other Canopy Growth news, Director Willy Kruh sold 3,738 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of C$9.94, for a total value of C$37,155.72. Company insiders own 0.31% of the company’s stock.

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.