Organigram (TSE:OGI) Trading Up 6.3% – Should You Buy?

Shares of Organigram Holdings Inc. (TSE:OGI) traded up 6.3% during mid-day trading on Thursday . The company traded as high as C$2.07 and last traded at C$2.03. 203,925 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 247,018 shares. The stock had previously closed at C$1.91.

Analyst Upgrades and Downgrades

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

Organigram Stock Performance

The stock has a 50 day moving average of C$2.11 and a 200 day moving average of C$2.29. 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 firm has a market cap of C$271.64 million, a price-to-earnings ratio of 13.05, 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.