Organigram (TSE:OGI) Shares Up 0.4%

Shares of Organigram Holdings Inc. (TSE:OGI) traded up 0.4% on Friday . The stock traded as high as C$2.65 and last traded at C$2.57. 280,992 shares were traded during trading, a decline of 29% from the average session volume of 396,228 shares. The stock had previously closed at C$2.56.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. ATB Capital set a C$5.25 price objective on Organigram and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group reduced 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. Finally, Alliance Global Partners upped their price objective on Organigram from C$2.00 to C$2.70 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th.

Organigram Stock Up 0.4 %

The firm has a market cap of C$241.84 million, a P/E ratio of -1.02, a price-to-earnings-growth ratio of 0.42 and a beta of 1.11. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.75. The firm has a fifty day moving average of C$2.83 and a 200-day moving average of C$2.24.

Organigram (TSE:OGI) last released its earnings results on Tuesday, February 13th. The company reported C($0.19) earnings per share (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 company had revenue of C$36.46 million for the quarter, compared to the consensus estimate of C$38.13 million. On average, equities research analysts anticipate that Organigram Holdings Inc. will post 0.09216 earnings per share for the current year.

Insider Buying and Selling

In other Organigram news, Director Donald Geoffrey Machum sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was 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

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.