Canopy Growth (TSE:WEED) Stock Passes Below 50-Day Moving Average – What’s Next?

Canopy Growth Corp (TSE:WEED – Get Free Report)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$1.37 and traded as low as C$1.28. Canopy Growth shares last traded at C$1.30, with a volume of 464,372 shares.

Analysts Set New Price Targets

Separately, Alliance Global Partners lowered their price target on 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$1.88.

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Read Our Latest Analysis on WEED

Canopy Growth Price Performance

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 business’s 50 day moving average price is C$1.37 and its 200 day moving average price is C$1.45. The stock has a market capitalization of C$548.80 million, a P/E ratio of -1.48, a price-to-earnings-growth ratio of -0.01 and a beta of 1.38.

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

Canopy Growth Company Profile

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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.

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