Organigram (TSE:OGI) Sets New 12-Month Low – Here’s Why

Organigram Holdings Inc. (TSE:OGI) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$1.44 and last traded at C$1.44, with a volume of 94564 shares. The stock had previously closed at C$1.48.

Analyst Upgrades and Downgrades

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

Organigram Stock Down 2.0%

The stock has a market capitalization of C$203.92 million, a price-to-earnings ratio of -6.78, a PEG ratio of 0.42 and a beta of 1.72. The firm’s fifty day moving average is C$1.89 and its 200-day moving average is C$2.09. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.82 and a quick ratio of 2.62.

Insiders Place Their Bets

In other Organigram news, Director Donald Geoffrey Machum sold 17,929 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$1.86, for a total transaction of C$33,347.94. Following the transaction, the director owned 1,125 shares of the company’s stock, valued at C$2,092.50. This trade represents a 94.10% decrease in their position. Insiders sold 76,647 shares of company stock valued at $142,753 over the last three months. 31.32% of the stock is owned by insiders.

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.