Insider Buying: Organigram (TSE:OGI) Director Acquires C$22,000.00 in Stock

Organigram Holdings Inc. (TSE:OGI) Director James Hideo Yamanaka purchased 20,000 shares of Organigram stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of C$1.10 per share, with a total value of C$22,000.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at C$22,000. This represents a ∞ increase in their ownership of the stock.

Organigram Price Performance

TSE OGI opened at C$1.56 on Thursday. The company has a 50 day simple moving average of C$1.83 and a 200-day simple moving average of C$2.06. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.82 and a quick ratio of 2.62. The firm has a market capitalization of C$219.61 million, a price-to-earnings ratio of -7.29, a price-to-earnings-growth ratio of 0.42 and a beta of 1.72. Organigram Holdings Inc. has a 52-week low of C$1.44 and a 52-week high of C$3.09.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets lowered shares of Organigram from a “strong-buy” rating to a “moderate buy” rating and cut their price objective for the company from C$3.50 to C$3.25 in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$3.13.

About Organigram

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.