Organigram (TSE:OGI) Shares Down 3.7% – Here’s Why

Organigram Holdings Inc. (TSE:OGI)’s stock price traded down 3.7% on Thursday . The stock traded as low as C$1.82 and last traded at C$1.82. 69,636 shares were traded during mid-day trading, a decline of 71% from the average session volume of 238,965 shares. The stock had previously closed at C$1.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OGI shares. ATB Cormark Capital Markets lowered Organigram from a “strong-buy” rating to a “moderate buy” rating and cut their price objective for the stock from C$3.50 to C$3.25 in a report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 target price on shares of Organigram and gave the company a “buy” rating in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$3.13.

Organigram Stock Down 0.5%

The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 2.29. The stock has a 50-day simple moving average of C$1.98 and a two-hundred day simple moving average of C$2.25. The firm has a market cap of C$246.77 million, a PE ratio of 11.75, a P/E/G ratio of 0.42 and a beta of 1.81.

Organigram Company Profile

Organigram Inc is a Canadian licensed producer of cannabis products. Organigram focuses on producing exceptional, indoor-grown cannabis for patients and adult recreational consumers, as well as developing global business partnerships.