Canopy Growth (WEED) Trading Up 6.2%

Shares of Canopy Growth Corp (TSE:WEED) were up 6.2% on Thursday . The company traded as high as C$41.03 and last traded at C$39.82. Approximately 4,606,397 shares changed hands during trading, a decline of 21% from the average daily volume of 5,849,531 shares. The stock had previously closed at C$37.51.

A number of equities analysts recently issued reports on WEED shares. Cowen upped their price target on Canopy Growth from C$56.00 to C$74.00 in a report on Tuesday, September 4th. Benchmark reaffirmed a “buy” rating and issued a C$100.00 price target on shares of Canopy Growth in a report on Tuesday, September 25th. Canaccord Genuity raised Canopy Growth from a “hold” rating to a “speculative buy” rating and upped their price target for the company from C$34.00 to C$50.00 in a report on Thursday, August 16th. Finally, Cormark upped their price target on Canopy Growth from C$33.00 to C$40.00 in a report on Thursday, August 16th.

The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 49.44.

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About Canopy Growth (TSE:WEED)

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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