Canopy Growth (TSE:WEED) Stock Price Up 16.6%

Canopy Growth Corp (TSE:WEED)’s share price rose 16.6% on Friday . The stock traded as high as C$13.97 and last traded at C$13.83. Approximately 1,392,670 shares traded hands during trading, a decline of 46% from the average daily volume of 2,574,283 shares. The stock had previously closed at C$11.86.

Analyst Upgrades and Downgrades

WEED has been the topic of several analyst reports. Sanford C. Bernstein lifted their price target on shares of Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th. Jefferies Financial Group decreased their price objective on shares of Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating on the stock in a research report on Tuesday, February 27th. Finally, Bank of America decreased their price objective on shares of Canopy Growth from C$7.00 to C$4.00 in a research report on Wednesday, February 14th.

Canopy Growth Stock Performance

The company has a current ratio of 1.79, a quick ratio of 2.32 and a debt-to-equity ratio of 127.28. The business’s 50 day moving average is C$7.99 and its 200 day moving average is C$4.87. The stock has a market capitalization of C$1.11 billion, a PE ratio of -0.59, a PEG ratio of -0.01 and a beta of 1.63.

About Canopy Growth

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.