Organigram (TSE:OGI) Shares Down 6%

Organigram Holdings Inc. (TSE:OGIGet Free Report)’s share price was down 6% on Monday . The stock traded as low as C$3.33 and last traded at C$3.45. Approximately 149,815 shares changed hands during trading, a decline of 49% from the average daily volume of 294,526 shares. The stock had previously closed at C$3.67.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. ATB Capital upped 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. Canaccord Genuity Group decreased their target price on shares of Organigram from C$4.00 to C$3.75 in a research report on Wednesday, December 20th. Alliance Global Partners boosted their price target on Organigram from C$2.00 to C$2.70 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Jefferies Financial Group lowered their price objective on Organigram from C$4.95 to C$4.40 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Get Our Latest Analysis on OGI

Organigram Stock Up 6.7 %

The firm has a market capitalization of C$343.47 million, a PE ratio of -1.45, a price-to-earnings-growth ratio of 0.42 and a beta of 1.11. The company has a current ratio of 6.95, a quick ratio of 2.62 and a debt-to-equity ratio of 1.75. The firm has a 50-day moving average of C$2.70 and a two-hundred day moving average of C$2.10.

Organigram (TSE:OGIGet Free Report) last announced its quarterly earnings results 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). The firm had revenue of C$36.46 million for the quarter, compared to analyst estimates of C$38.13 million. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. On average, equities research analysts forecast that Organigram Holdings Inc. will post 0.0896 EPS for the current year.

Insider Buying and Selling at Organigram

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

About Organigram

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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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