Organigram (TSE:OGI) Shares Down 3.7% – What’s Next?

Shares of Organigram Holdings Inc. (TSE:OGI) fell 3.7% on Thursday . The stock traded as low as C$1.82 and last traded at C$1.82. 69,636 shares changed hands 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Canaccord Genuity Group set a C$3.00 price objective on shares of Organigram and gave the stock a “buy” rating in a research note on Tuesday, January 27th. ATB Cormark Capital Markets downgraded shares of Organigram from a “strong-buy” rating to a “moderate buy” rating and cut their target price 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, Organigram presently has a consensus rating of “Buy” and a consensus price target of C$3.13.

Organigram Stock Performance

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 company has a market capitalization of C$248.13 million, a PE ratio of 11.82, a PEG ratio of 0.42 and a beta of 1.81. The business has a 50 day simple moving average of C$1.99 and a 200 day simple moving average of C$2.25.

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.