Organigram (TSE:OGI) Trading 6.3% Higher

Organigram Holdings Inc. (TSE:OGIGet Free Report)’s share price traded up 6.3% during trading on Wednesday . The company traded as high as C$3.24 and last traded at C$3.23. 226,582 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 278,716 shares. The stock had previously closed at C$3.04.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group cut their target price on shares of Organigram from C$4.00 to C$3.75 in a report on Wednesday, December 20th. ATB Capital lifted their target price on shares of Organigram from C$5.50 to C$6.50 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Jefferies Financial Group cut their target price on shares of Organigram from C$4.95 to C$4.40 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, Alliance Global Partners boosted their price objective on shares of Organigram from C$2.00 to C$2.70 and gave the company a “neutral” rating in a research note on Wednesday, February 14th.

View Our Latest Stock Report on OGI

Organigram Stock Up 4.6 %

The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.62 and a current ratio of 6.95. The firm’s 50-day simple moving average is C$2.63 and its 200 day simple moving average is C$2.07. The company has a market capitalization of C$319.00 million, a PE ratio of -1.35, a price-to-earnings-growth ratio of 0.42 and a beta of 1.11.

Organigram (TSE:OGIGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.19) EPS for the quarter, missing the consensus estimate of C($0.13) by C($0.06). Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. The business had revenue of C$36.46 million during the quarter, compared to analysts’ expectations of C$38.13 million. As a group, equities research analysts forecast that Organigram Holdings Inc. will post 0.0896 earnings per share for the current year.

Insider Buying and Selling at Organigram

In other news, Director Donald Geoffrey Machum sold 23,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$2.74, for a total transaction of C$62,964.80. 34.74% of the stock is owned by insiders.

About Organigram

(Get Free Report)

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.

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