Canopy Growth Corp (TSE:WEED) shares shot up 2.3% on Wednesday . The stock traded as high as C$45.01 and last traded at C$44.10. 413,751 shares changed hands during trading, a decline of 93% from the average session volume of 6,002,049 shares. The stock had previously closed at C$43.10.
Several research firms have weighed in on WEED. Benchmark reaffirmed a “buy” rating and set a C$100.00 price target on shares of Canopy Growth in a research report on Tuesday, September 25th. Cormark boosted their price target on Canopy Growth from C$33.00 to C$40.00 in a research report on Thursday, August 16th. Canaccord Genuity raised Canopy Growth from a “hold” rating to a “speculative buy” rating and boosted their price target for the stock from C$34.00 to C$50.00 in a research report on Thursday, August 16th. Finally, Cowen boosted their price target on Canopy Growth from C$56.00 to C$74.00 in a research report on Tuesday, September 4th.
The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 49.44.
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, Bedrocan Canada, CraftGrow, and Foria brand names.
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