Canopy Growth (TSE:WEED) Shares Up 20.5%

Shares of Canopy Growth Corp (TSE:WEED) were up 20.5% during mid-day trading on Thursday . The stock traded as high as C$10.95 and last traded at C$10.74. Approximately 2,265,545 shares were traded during trading, a decline of 11% from the average daily volume of 2,550,838 shares. The stock had previously closed at C$8.91.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WEED shares. Jefferies Financial Group dropped their price target on shares of Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Sanford C. Bernstein raised their price target on shares of Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th. Finally, Bank of America dropped their price target on shares of Canopy Growth from C$7.00 to C$4.00 in a research note on Wednesday, February 14th.

Canopy Growth Stock Performance

The company has a debt-to-equity ratio of 127.28, a current ratio of 1.79 and a quick ratio of 2.32. The company’s 50-day moving average price is C$7.22 and its two-hundred day moving average price is C$4.46. The company has a market capitalization of C$1.01 billion, a price-to-earnings ratio of -0.51, 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.